Tag: mobile security

Gemalto receives MasterCard approval for new mobile payments system

| January 21, 2016

New cloud-based mobile payments system has won the approval of MasterCard

Gemalto, a prominent digital security firm, has received approval from MasterCard to complete its cloud-based mobile payments system. The new system is meant to serve as an all-encompassing solution, including support for backoffice server platforms and payment software running on a consumer’s mobile device. The system will leverage the power of cloud computing technology, which will make it more secure and allow it to better accommodate the needs of consumers and businesses alike.

Security remains a major issue that requires attention in the mobile payments space

MasterCard spent a significant amount of time evaluating the mobile payments system from Gemalto. The company was particularly interested in the security aspects of the system, as Gemalto has extensive experience in digital security. Mobile security has become a quite important issue in the mobile payments space. As mobile commerce has grown in popularity, it has become an attractive target for malicious groups that want to exploit consumer financial information. Gemalto has been an advocate for security, especially in the mobile payments space, for several years.

Payment system will be part of the Allynis Trusted Services Hub

MasterCard Approval - Mobile Payments The new payment system will be a part of Gemalto’s Allynis Trusted Services Hub, which serves as a turnkey business service for financial institutions. Merchants and banks will be able to use the system to effectively engage mobile consumers. Gemalto notes that the new system will be secure, providing users with piece of mind, especially as security threats become more prominent.

Companies are beginning to feel pressure to embrace mobile payments services

Mobile payments are becoming more popular among consumers, many of whom are beginning to base a significant portion of their lives on their smartphones. This has begun to pressure several companies, particularly those within the retail industry, to embrace new mobile-centric services, such as payment and mobile security systems. These companies have begun to invest in systems like those provided by Gemalto, which will allow them to better connect with consumers and ensure their success in the mobile payments field.

Focus on security may ensure growth of China’s mobile payments space

| January 20, 2016

Security is becoming a top priority for those involved in mobile payments

China’s mobile payments sector saw dramatic growth in 2015, and this momentum may hold throughout this year. The country’s mobile technology sector has been developing very quickly, with new devices becoming available and access to the mobile Internet expanding. As more consumers gain access to smartphones, they are beginning to rely more heavily on mobile payments services. As these services become more popular, China’s regulators are beginning to focus on security issues in order to ensure the continued growth of mobile commerce.

China’s mobile population is growing quickly

The Chinese Ministry of Industry and Information Technology notes that there are more than 1.3 billion people in China with a mobile device. Many of these consumers are using their mobile devices to shop online and in physical stores. The problem, however, is that the mobile payments sector is becoming increasingly attractive to malicious groups that want to exploit consumer information. Security risks are causing concern among consumers, making them shy away from mobile payments services.

Focus on security may make consumers more comfortable with mobile payments

Mobile payments securityA greater focus on security may ensure the continued growth of the mobile payments industry by making consumers more confident in the services they use. To ensure security, some companies involved in the mobile commerce space are beginning to use new technology to protect consumers. Biometric technology, in particular, is becoming quite popular among these companies. This technology leverages biological information, such as a fingerprint, to protect consumer information that is stored on a mobile device.

Bringing mobile payments platforms into new service industries has become a priority

Beyond security, Chinese companies must find ways to integrate mobile payments into other service industries. This would ensure the expansion of the payments market and give consumers more access to platforms they may be interested in. As more organizations support mobile payments, both digital and physical, more consumers are likely to participate in this new form of commerce. Alibaba is expected to lead the expansion of mobile payments into new service industries with its Alipay platform and its focus on consumer security. Alipay accounts for some 400 million registered users, more than half of whom use the service quite frequently.