security for mobile payments Archives

Security holds back the progress of mobile commerce in the UK

10/22/201110/21/2011 John Montgallo

Mobile commerce continues its ambitious, albeit sluggish, growth around the world. With an ever increasing number of NFC-enabled smart phones emerging into the commercial market, mobile commerce is quickly recombining inevitability. While the day may be coming when all transactions are made using a smart phone, such a day may still be far into the future. Mobile commerce is facing major security concerns regarding how safe a person’s financial information really is when it is stored on mobile devices that are easily stolen or hacked. In the UK, the security…

Google Wallet claims to be safer than traditional payment methods

06/03/2011 Jesse Collins

Digital wallets are becoming more popular amongst the tech-savvy. The idea is to store all of your financial data on your smart phone or other mobile device. Using NFC, you can make payments with a wave of your device. The concept seems to have an inherent danger, as anyone could steal the phone like they would steal a credit card. However, several financial and mobile security experts say that digital wallets are actually safer than physical ones. This may be good news for Google as the company begins to release…