Olympic Games give companies an opportunity to promote mobile commerce
The 2012 Olympic Games will begin this month, hosting in the United Kingdom. The sporting event is expected to attract a large number of foreign visitors to the country, as it has done for its previous hosts over the past several decades. British companies see the event as an opportunity to introduce mobile commerce and NFC-based services to a wide range of consumers. Renowned computer security firm McAfee claims that testing NFC-based services during such a high-profile event could create an ideal opportunity for criminals.
McAfee suggest security shortfalls rampant in mobile commerce
Technology and telecommunications companies, as well as financial institutions, are looking to make mobile commerce a staple around the world. These companies are quick to highlight the convenience of mobile commerce through the use of NFC technology. The technology has been a cornerstone of the industry for some time, enabling mobile consumers to make purchases of goods and services using their mobile devices. Those invested in the mobile commerce industry believe that the Olympic Games will be an ideal time for NFC technology to gain exposure, but McAfee claims that the event is a double-edged sword in terms of security.
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Security firm notes that NFC technology has not yet become secure
According to the security company, NFC technology and its associated mobile commerce applications do not yet have adequate security features to protect them from potential exploitation. McAfee notes that it has seen a number of security vulnerabilities in various NFC-based mobile commerce systems, including one that allowed an attacker to obtain a consumer’s financial information through the use of a pre-paid card that was able to crack a security PIN.
Problems persist for the mobile commerce industry
McAfee notes that some of the security issues it has seen with NFC technology and mobile commerce systems have been resolved, but many more still linger. The security company is advising consumers to take caution when using these systems as they are not yet as secure as they may need to be.