Cloud-based mobile commerce
Fast food giant McDonald’s has announced that it will be participating in a new NFC-based mobile payment system this year. The company will be working with Austrian telecommunications companies A1 and Paybox Bank. These two companies have designed a new mobile payment system that is based on cloud-computing. Most other payment systems make use of microchips and PIN technology. Paybox believes that a cloud-based system would be much more secure and more intuitive to use for consumers. As such, the company has launched a campaign to test its technology.
New payment system could be the key to solving NFC security issues
The system is capable of facilitating mobile transactions through a cloud computing network. Paybox claims that this system is more secure because it does not store a user’s financial information. Typical mobile payment systems do store this information for a time after it has been used, which could present serious security issues for those engaging in mobile commerce. Paybox suggests that the relatively simple adoption of cloud computing could help solve the significant problems facing mobile commerce today.
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Consumers divided on mobile commerce, security cited as main concern
Opinions regarding mobile commerce are quite varied. Many tech-savvy consumers advocate the concept of mobile transaction and this sentiment is shared by several of the world’s largest technology companies. Others are concerned over the security of NFC technology and question the viability of storing financial information on a mobile device. These concerns have largely been responsible in stifling the adoption and progress of the mobile commerce industry. These concerns could be placated through the use of cloud-computing, which is often considered a more secure way of computing in general.
Cloud system to be tested on 500 consumers before expanding
McDonald’s will work with Paybox and A1 to test the new NFC payment system on a sample of 500 consumers. These consumers will have access to NFC-enabled mobile devices and will be able to make use of the system with no trouble. Depending on the results of this trial, Paybox may decide to launch new trials to see if the system can handle large amounts of traffic. Cloud-based mobile commerce may become quite popular if it is able to help consumers feel more secure in making mobile transaction. If this is the case, more companies may look to work with Paybox in the future.