The trend is on the rise in Canada, where users are being advised to take security precautions. A new report has shown that mobile payments are a rapidly rising trend in Canada, adding itself to a growing number of data analyses indicating the same trend. The largest Canadian interbank network reported that it is experiencing massive growth in device use. The interbank network, Interac, reported that by August, over one billion debit mobile payments were transacted within the prior 12 months using its network. Moreover, data from Interac showed that…
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Mobile wallet partnership forms between Samsung Pay and South African PayGate
The South African payment gateway has announced it is accepting the electronics giants’ payments. South African online payment gateway PayGate, a DPO Group subsidiary, has announced that it is adding the Samsung Pay mobile wallet to its list of payment methods its merchants will be able to accept. This solution makes it possible for smartphone users to complete transactions with their phones. The mobile wallet is from a trusted brand and allows consumers to be able to complete a purchase without having to use cash or share any of the…
Read MoreApple Pay security would “fundamentally diminish” with banks
The company won’t budge despite pressure from Australian banks to add wallet apps to iPhones. Australian banks have been coming together to try to pressure Apple to include their products on iPhones. However, the American company has insisted that Apple Pay security would suffer if it were to add mobile wallets from the banks. The company is standing firm against the three banks. Apple has opted not to give the banks access to the NFC chip used by its own Apple Pay wallet. The three banks wanted iPhone users to…
Read MoreScary Samsung Pay security flaw identified
A company representative has revealed that the mobile wallet may not be as safe as previously believed. A Samsung Pay security flaw has been identified. A representative of the company has released a statement to the public to help to explain the problem. The scary component of this report is that it could place the transaction details in the hands of a hacker. This has arrived at a time when mobile payments are only just starting to be accepted by consumers. Among the main barriers to the adoption of mobile…
Read MoreSecurity problems may be driving people away from mobile payments
Consumers and IT professionals have major concerns when it comes to mobile security Security concerns may be driving consumers away from mobile payments. A recent survey from Experian has found that a significant portion of consumers believe that the mobile space is particularly prone to digital risks. Several companies have become involved in the mobile payments space, but they have not yet become acclimated to the security risks that exist therein. As such, faith in the ability to protect consumer financial information may be waning for many consumers. Survey shows…
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