Tag: mobile wallets

Mobile commerce platforms may be seriously flawed

| November 10, 2012

 

Mobile commerce security a cause for concern

Security is becoming a mamobile commerce secruity concernjor issue, especially as people around the world begin to rely more heavily on mobile technology to function in society. Security is becoming a major concern in regards to mobile commerce. As consumers become more reliant on their mobile devices, they are beginning to become more enthralled with the concept of using these devices to make purchases. This growing interest has lead many technology and telecommunications company to begin developing mobile commerce platforms very quickly, which could be leading to fairly serious security problems that could put the financial information f consumers at risk of exploitation.

Mobile wallets being produced at break-neck speeds

Mobile commerce platforms, often called mobile wallets, have been in development since early 2011. Google is one of the companies that first introduced one of these platforms, which came in the form of the now popular Google Wallet. Several other companies, both large and small, have produced similar platforms, with some companies working on releasing numerous variations of the same platforms they have already released. The companies interested in mobile commerce are eager to ensure that their position in the burgeoning mobile commerce industry is secured.

The speed at which mobile wallets enter the market may hint to their inherent security flaws

Elephant Talk Communications, an international telecommunications business, believes that the rampant pace at which these companies are releasing mobile commerce platforms is leaving room for serious security risks that could damage the finances of consumers. The company suggests that the more a company focuses on the speed of producing these platforms, the more likely they are to overlook serious security faults. Thus, insecure platforms could be released to the global market, which could then be easily exploited by hackers.

Companies may not be taking time to ensure the security of their mobile commerce platforms

Currently, mobile commerce hinges on NFC technology. The technology allows for the transmission of digital information and makes mobile wallets effective commerce tools. NFC technology is often criticized for its lackluster security features, but the problem may instead lie with mobile wallets themselves. If companies are not taking the time to ensure that their platforms are secure, mobile commerce could see serious delays in adoption around the world.

Google Wallet set to go physical

| November 6, 2012

 

Google WalletGoogle Wallet may soon take the form of a card

By now, consumers that are interested in mobile commerce are likely to have heard of Google Wallet. This mobile payment platform can transform smart phones and tablets into platforms that allow consumers to make purchases of goods and services using digital information rather than physical currency. Despite a relatively rough launch last year, the Google Wallet has become a leading mobile commerce platform, successfully exposing a wide range of consumers to the concept of mobile payments.

Google Wallet Card could help expand the accessibility of mobile commerce

Google may now be gearing up for the launch of a physical version of the Google Wallet. The Google Wallet Card, as it is being called by Android Police, a technology web site, has caught some screenshots of Google’s plans and how a physical card may be the next step in the continued evolution of the Google Wallet. The new system will provide consumers with a card, much like the traditional credit cards that are widely used today. This card will be linked to a Google Wallet account and make use of the financial information associated with that account.

Consumers without NFC-enabled devices left out of mobile commerce loop

Through this initiative, Google aims to make mobile commerce more accessible to a wide range of consumers. Currently, mobile commerce is largely reserved to those with NFC-enabled mobile devices. Those without such a device are unable to participate in mobile payments simply because their devices cannot interface with the technology used in mobile commerce. The Google Wallet Card will solve this problem by giving consumers another option to engage in mobile payments.

Still a long way to go before mobile commerce becomes mainstream

The Google Wallet Card will be accepted anywhere major credits card are accepted. Google has invested heavily in mobile commerce thus far and is keen to ensure most consumers have the ability to engage in mobile payments. The Google Wallet Card is one step closer to realizing this plan, but Google will have to continue its work in order to get people interested in making payments using their smart phones and other mobile devices.