PayPal seeks to make mobile payments more secure
When it comes to mobile payments, security is a major issue. Mobile commerce has garnered a significant amount of attention from consumers around the world, but it has also attracted the interests of malicious groups that seek to exploit financial information. Hackers have begun infiltrating the mobile commerce scene, and this has made many consumers concerned for the security of their financial information. PayPal, which has established a prominent place in the mobile payments sector, has begun testing new technology that could make the mobile space more secure.
New system leverages facial recognition technology
PayPal has a vested interest in mobile payments. As such, the company is keen to ensure that mobile payments can be as secure as possible for consumers and businesses alike. Therefore, PayPal has begun testing a new security system that makes use of facial recognition technology. The system is meant to verify a user’s face before authenticating mobile payments. PayPal believes that the system will add a layer of security to mobile commerce that is difficult to beat.
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Small scale tests being performed in the UK
A small number of businesses in the United Kingdom began testing PayPal’s new facial recognition system earlier this month. PayPal will be testing the system on a small scale over the coming months to see how it performs in a variety of markets. Thus far, the businesses making use of the system have reported relatively favorable results, with consumers expressing somewhat more confidence in mobile commerce in general.
Security remains a top issue among consumers
Mobile payments have suffered criticism in the past due to problems concerning security. Mobile commerce platforms have been growing more secure over the past few years, but many consumers are still worried about their financial information being stolen. PayPal is just one among many companies that are investing heavily in improving the security associated with mobile commerce platforms in order to placate the concerns of consumers.