Equifax teams with Zumigo to make its mobile commerce platform more secure
Global information solutions provider Equifax has announced that it has entered into a joint development agreement with Zumigo, a developer of mobile device location and identity verification solutions. Through this partnership, Equifax intends to expand its mobile commerce platform and further develop it as a network-based solution that is meant to make mobile payments more straightforward for consumers. The platform will incorporate the identity verification systems that have been developed by Zumigo in order to combat fraud.
Security remains one of the most problematic issues for the mobile space
Mobile commerce is becoming extremely popular among consumers throughout the world. As such, it is also becoming an attractive target for malicious groups that may want to exploit the financial information of consumers. Security is one of the major challenges that faces the mobile payments space currently and many of the platforms that consumers are currently using lack sufficient protection against fraud and exploitation.
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Platform aims to protect consumers from fraud and exploitation through the use of Zumigo’s technology
The platform from Equifax is meant to utilize credit data and the data provided by financial service firms in order to make mobile transactions more secure. The platform will authenticate a user’s identity over a wireless network. This allows the platform to work with any mobile device and avoid some of the security faults that are often associated with native mobile applications. Consumer information is not actually stored on the mobile device that the platform is being used on, which decreases the likelihood that this information will be exploited.
More robust security could encourage people to participate in mobile shopping more regularly
Making mobile commerce more secure has become a major priority for companies interested in mobile engagement. In the past, both companies and consumers interested in mobile payments have fallen prey to the lackluster security features that many prominent mobile commerce platforms had to offer. This has caused many people to be somewhat leery of mobile payments in general, making them less likely to purchase products from their mobile devices in the future.