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PayPal tests new mobile payments security system

08/26/201308/24/2013 John Montgallo

PayPal seeks to make mobile payments more secure When it comes to mobile payments, security is a major issue. Mobile commerce has garnered a significant amount of attention from consumers around the world, but it has also attracted the interests of malicious groups that seek to exploit financial information. Hackers have begun infiltrating the mobile commerce scene, and this has made many consumers concerned for the security of their financial information. PayPal, which has established a prominent place in the mobile payments sector, has begun testing new technology that could…

NFC technology has lost its charm for RBC

07/25/201307/22/2013 Julie Campbell

Royal bank of Canada (RBC) mobile commerce platform

The Canadian bank is already looking to introduce cloud based transactions within the country. Though RBC and CIBC – two of the major Canadian banks – have already rolled out mobile payments services based on NFC technology, it seems that this trend may not have caught on fast enough for Royal Bank’s taste. Though the tech has barely had the opportunity to get off the ground, the bank is already moving on to something else. RBC has made an announcement that suggests that NFC technology may already be on its…

Mobile payments projected to reach $1.3 trillion annually

06/06/201306/03/2013 Stephanie Beck

Though this is very promising for the technology, it has also made it very appealing to cybercriminals. As the popularity and use of mobile payments continue to rise to the point that the latest projection for the market is that it will reach $1.7 trillion per year by 2017, cybercriminals have not failed to take notice and are becoming an ever present element of the use of this technology. It is predicted that these security threats will only continue to grow along with the use of the technology. At the…

Mobile payments from banks trusted by UK consumers

06/03/201306/01/2013 Stephanie Beck

A recent survey has shown that British smartphone users prefer paying with their bank’s services. Although consumers in the United Kingdom have always had a form of love/hate relationship with their banks, the results of a recent survey have shown that these are still the institutions that smartphone users in that country like the most in terms of mobile payments services. They may not be thrilled with their banks, but they do trust them in terms of the security of their services. The mobile payments survey was conducted by U.K.-based…

Mobile payments use is increasing, but so are security worries

04/16/201304/15/2013 Stephanie Beck

Mobile security payments online retail card

Experts are predicting that the amount of fraud will rise as the usage of these services grows. Though slow to start in terms of consumer adoption, mobile payments technology has the potential to revolutionize the way that purchases are made and transactions are completed. At the same time, as with any growth in technology popularity, this opens the door to fraud. Industry experts are finding that as the trend grows toward the use of mobile payments technology, so does the concern regarding its security and the protection that it provides…