Tag: mobile technology

Visa and Monitise look to expand mobile payments throughout Europe

| March 10, 2013

Mobile Payments Partnership EuropeVisa and Monitise extend mobile payments partnership

Visa has announced that it is expanding its partnership with Monitise, a mobile payments company. The two companies have been working to expand the reach of mobile commerce throughout Europe and have been met with promising success thus far. Visa now aims to extend its partnership with Monitise through a new three-year commercial agreement. Per the agreement, the two companies will continue expanding into the European mobile commerce market, developing new mobile payments solutions that are designed with financial institutions in mind.

Mobile commerce is growing more popular among financial groups due to consumer demand

Mobile payments have been a relatively easy sell to consumers. Many people have shown  their willingness to use their smartphones and tablets to purchase goods and services. The concept has been more difficult to sell to financial institutions, which are more concerned with the risks associated with mobile commerce rather than its convenience. Despite these concerns and a reluctance to support mobile commerce, many European financial institutions are seeing rising demand from customers concerning mobile payments. Thus, these organizations are beginning to take steps to accommodate the wants of their customers.

New solutions to be introduced to European market

Through the agreements, Visa will be able to make use of mobile technology developed by Monitise. This technology will be put to use in the development of new mobile payments solutions. As these solutions take form, Visa will help promote them to European markets as well as help ensure that these solutions are secure against the threats that exist in the mobile world. Visa and Monitise have already deployed mobile payments services to more than 3,000 banks and financial institutions in Europe and the two companies are expected to look to take advantage of this momentum.

Visa and Monitise seek to dominate Europe with mobile payments

Visa notes that the way people pay for goods and services is changing. More people have access to smartphones and tablets than ever before and these consumers are finding that mobile commerce offers them a convenient and safe way to make purchases. Visa and Monitise will work to continue establishing their commanding presence in the European market, hoping to fortify themselves against competing parties that are looking to do the same.

Mobile security suffers a blow from new hacking trend

| March 8, 2013

Hackers Mobile SecurityMobile security becoming a serious issue as hackers find way to exploit Google Play

A new trend is emerging in the world of malware, and it is targeting the Android platform. Hackers are beginning to work their way into Google Play by disguising their malware as legitimate applications. Typically, Google can remove these applications from the Play store with relative ease, but many hackers are hijacking Play accounts from legitimate developers to avoid Google’s own protection methods. This trend could be a major blow against the Android and the platforms ongoing fight in the realm of mobile security.

Google may be unable to keep up with emerging trends in the mobile security space

Mobile security is quickly becoming more important than physical security. The information consumers share through their mobile devices is very valuable, especially to those that know how to exploit such information. Given that mobile technology is relatively new, the security of mobile devices and mobile applications has yet to mature. While Google has taken steps to ensure the security of the Play marketplace, many hackers have found a way to completely circumvent the company’s endeavors in mobile security.

Hackers target developers and not just consumers

Many hackers are beginning to target legitimate developers rather than just consumers. Developer Play accounts are being hijacked and used to distribute applications disguised as safe pieces of software. In many cases, this malware is actually being marketed as mobile security software for smartphones and tablets. Hacking a developer Play account is not the only method that malicious parties are using to gain access to consumers. Some are simply buying these accounts from developers outright.

Developers offered funds for each malicious application they publish to Google Play

Some hacking groups are offering $100 to developers with verified Play accounts for each malicious application they publish. Google charges developers $25 to put an application on the Play marketplace, which can be a hefty sum for small scale developers that do not have a strong presence in the mobile market. Hackers are preying on these developers by offering them a financial incentive to distribute malicious applications and circumvent the mobile security protections that Google has put in place.