Mobile wallets may be arriving sooner than expected

mobile wallets

This is placing greater pressure on retailers to upgrade their point of sale terminal security. Though mobile wallets and other types of payment systems have been dragging their heels in the United States, falling short of many expectations, the launch of ISIS in Austin and Salt Lake City could propel the adoption of the service forward. This could make it even more important for retailers to meet their upgrade deadlines. So far, the launches of the leading mobile wallets have been based on near field communication (NFC) technology. This means…

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Major credit companies come together to make mobile commerce more secure

nfc technology Mobile Security

As mobile commerce begins to gain momentum among consumers, some major credit card companies are developing mobile apps that will boost the security features of NFC-enabled smart phones. Visa, MasterCard, American Express and Discover are all investing in NFC-powered mobile transaction, believing that the mobile commerce will become a favored payment medium in the future. Mobile commerce has been plagued with concerns over security, however, leaving many questioning whether the industry will ever become established. The security issues inherent in mobile commerce are quite glaring. Given that financial information must…

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Visa’s strategy for mobile payment domination

Visa Mobile Payments News

Credit card and other large companies are diving into mobile and digital payment technologies head first, forming aggressive strategies with purchasing and partnerships in order to ensure their space at the top of the game. Both American Express and MasterCard have been making deals and have been choosing the technologies that they believe will lead the way for mobile payments. Visa has also made as series of significant moves recently, which include the assumption of an advisory position in Square (a disruptive startup), the $110 million acquisition of Fundamo (a…

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