Tokenization is becoming a top priority in the mobile commerce space
Tokenization is becoming a very important concept in the mobile commerce space. As this sector continues to grow, it is becoming a more attractive target for malicious groups. These groups sometimes attempt to steal the financial information of consumers in order to make fraudulent payments. Security has long been an issue that has plagued the mobile space, and now that payments have become mobile-centric, securing payment platforms is becoming a major priority.
Event will highlight the potential of digital tokens in the mobile commerce space
The issue of tokenization will be highlighted at the upcoming Cartes Secure Connexions 2015 event. Tokenization involves replacing financial information with digital tokens, which serve as a way to authenticate a mobile transaction. Each token is unique to the person making a transaction and a new token is generated for each transaction being made. Companies like Visa and MasterCard have thrust tokenization into the mobile commerce space, claiming that digital tokens are very effective at keeping consumer information safe from exploitation.
Digital tokens could be the perfect security solution
Digital tokens are being heralded as the fail-safe protection that mobile consumers need when making payments with their devices online and in physical stores. While claiming that a security solution is fail-safe can be a risk in itself, these tokens have proven to be quite resilient against various forms of attacks, making them a very secure element in the growing mobile commerce space. Understanding how these tokens work and how they will continue to evolve is becoming a hot topic among organizations involved in mobile payments.
Tokens could alleviate some of the security concerns that consumers have regarding mobile commerce
The rapid innovation of mobile payment systems has had an effect on the security space. As new platforms have emerged, security solutions have had to evolve at a rapid pace in order to keep up with threats. These threats have made many consumers shy away from mobile commerce, but tokenization may be the solution that drives more people into the mobile payments world.
Filed under: Mobile Commerce, Mobile Commerce Security, Mobile Payments · Tags: Cartes Secure Connexions 2015, digital tokens, Mastercard, mobile commerce, mobile commerce news, mobile commerce security, mobile payments, mobile security, Tokenization, Visa