Tag: Softcard

Google makes an ambitious move in the mobile payments sector

Android Pay will not charge transaction fees to card providers

Google has announced that it will not be charging transaction fees on mobile payments made through its new Android Pay platform. The move has to do with competing more aggressively with Apple, who has found significant traction in the mobile payments space. Google will not be receiving a percentage of transactions processed from payment cards, such as MasterCard and Visa, which may make Android pay significantly more attractive to merchants interested in the mobile space.

Tokenization may be the death of transaction fees

Google had initially intended to charge a fee on credit card transactions, as this has become the standard for the mobile payments industry, but opted not to. One of the reasons for this is the growing prominence of tokenization, a security practice that replaces financial information with digital tokens. This practice has been adopted and heavily promoted by both MasterCard and Visa as a way to make mobile transactions more secure. One of the issues with tokenization is that it prevents payment services from charging fees to card providers.

Android Pay may become Google’s default mobile payments platform

Mobile Payments - No FeesIn 2011, Google introduced its Wallet platform, which served as the company’s first entry into the mobile payments sector. Google Wallet experienced a relatively rough launch and has struggled to find traction with consumers since. Over the years, Google has been making changes to its approach to the mobile payments market, and the company now plans to launch, making acquisitions to improve its position in the market. In late 2013, Google acquired Softcard, and the company’s technology was used to develop Android Pay.

Downfall of transaction fees may bring more merchants into the mobile payments market

Transaction fees have been a significant challenge for retailers and card providers interested in the mobile payments space. While such fees are nothing new in the world of commerce, the mobile sector is still an unproven market, despite the promise that it shows. As such, merchants are somewhat uncertain about entering in the mobile payments space, expressing concern that this sector may be little more than a passing fancy for most consumers.

Windows Phone may get mobile payments support in the future

Windows 10 to bring Host Card Emulation to Windows Phone

Windows Phone users have had very limited options when it comes to mobile payments. One of the few services that were available to these users, Softcard, was recently shut down after its acquisition by Google. With the closure of Softcard, many Windows Phone users have been pushed out of the mobile commerce space. That may change soon, however, as Windows 10 will be coming to the platform. The latest version of the mobile operating system will feature Host Card Emulation.

Software architecture offers a way to support mobile payments on Windows Phone

Host Card Emulation is a type of software architecture that is meant to provide virtual representation for various types of cards, such as credit and debit cards. This serves as a way to support mobile transactions made on a device, such as a smartphone or tablet. Using Host Card Emulation, devices do not need to have a secure SIM card solution and consumers do not need to use a specialized application in order to make mobile payments.

NFC-enabled Windows Phones may be able to make mobile payments in the near future

Windows Mobile PaymentsThough Windows 10 will feature Host Card Emulation, those wishing to participate in mobile commerce on Windows Phones will have to have an NFC-enabled mobile device. NFC technology allows for digital information to be sent over short distances and this technology has become the backbone for most mobile payments platforms, which has lead to the increased availability of NFC-enabled mobile devices. Many Windows Phones have NFC capabilities, but older devices may not be equipped with NFC technology.

Microsoft could attract more people to Windows Phone if it supports mobile commerce more aggressively

Windows Phone may not be the most popular mobile device in the world, but there are a significant number of people with these devices. These consumers have expressed interest in participating in mobile commerce, but they have had limited support for this interest. Microsoft may be able to revitalize favor for its mobile devices if it can manage to provide support for mobile payments.