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Apple may be winning the mobile payments battle

| February 3, 2015

Apple Pay continues to gain momentum among consumers and businesses alike

Apple may be winning the war of mobile wallets. The company launched its new Apple Pay service three months ago and has already managed to make a significant impact on the mobile payments space. Apple has managed to beat other services in terms of mobile payments volume, despite these services having been around longer. Apple Pay has found success because of numerous reasons, one of which has to do with how secure the service is.

Apple Pay may be the most secure mobile payments solution currently available

Security has become a major issue in the digital world. Recent data breaches that have struck companies like Target and Sony have highlighted the dangers that exist in the online space. Mobile payments are also at risk, because services like Apple Pay deal in trafficking financial information. As such, malicious groups have taken interest in mobile platforms, seeking ways to take advantage of consumer information. Apple Pay has managed to offer a secure solution for those that are interested in mobile payments.

Biometric technology helps Apple protect consumer information from exploitation

Mobile Payments - Apple iPhone 6Apple Pay has become one of the most secure mobile platforms currently available. The service makes use of biometric technology, which allows transactions to be authorized using a fingerprint. This has fostered more confidence among consumers and has helped Apple Pay gain more favor. Though the service is considered very secure, there are some issues that have slowed its adoption among consumers.

Limited support for cards and banks counts as a detractor for Apple Pay

Apple Pay supports a limited number of card types and banks, which makes it impossible to use for some people. Corporate cards are also not supported, which limits the service’s appeal to enterprise customers. The service is still quite young, so Apple may choose to add more support for various card types in the future. Currently, however, this limited support serves as a detractor when compared to other mobile payments services that are available from companies like Google and PayPal.

Google may be showing interest in mobile payments firm Softcard

| January 22, 2015

Rumors suggest that Google may be looking to buy Softcard

Google may be in negotiations to acquire Softcard, the mobile payments firm that had once been known as Isis. Rumors suggest that Google may be looking to purchase Softcard for some $100 million, but neither company has confirmed this speculation or denied that negotiations are taking place. Google has a strong interest in mobile payments, having a payment platform of its own that has found modest success. The company has been working to establish a stronger foothold in the mobile commerce space in order to compete with others therein.

Softcard hit by layoffs during restructuring effort to become more efficient

Earlier in the month, Softcard laid off 60 of its employees during a consolidation phase. The company is taking steps to reduce the costs that it is exposed to in order to strengthen its business position. The layoffs were part of a larger restructuring of the company, which involves simplifying its organizational structure in order to be more efficient. This is not an uncommon practice in the business world, especially when it comes to the turbulent mobile payments industry.

Company helps 200,000 merchants accept NFC-based mobile payments from Android and Windows Phone devices

Mobile Payments - GoogleSoftcard exists as a way for large organizations to embrace mobile consumers with NFC-enabled devices. The firm offers NFC-based payment systems, which allow companies to accept transactions being made with mobile devices that are using NFC technology. Softcard claims that more than 200,000 merchants in the United States are making use of this service, as well as the Softcard application, which is available for both Windows Phone and Andorid.

Other companies show potential interest in the acquisition of Softcard

Google may not be the only company that is interested in Softcard. Rumors suggest that both PayPal and Microsoft have approached the company concerning potential acquisition. None of these companies have confirmed that these rumors are true, however. In Google’s case, the company is adamant in not acknowledging such rumors, apart from noting that it does not confirm rumors about its business operations.