Contents tagged with Mobile Commerce

  • Behavior-based biometrics: the future of payment authentication?

    As a piece of unchanging data, fingerprints are not as secure as behavioral metrics.

    Last year, 30 percent of all e-commerce transactions were executed from a mobile device, according to Internet Retailer. As mobile shopping continues to represent a large slice of online sales, card companies are sprinting to develop technology to better protect this new type of card-not-present transaction from fraud. While physical biometric authentication, such as fingerprint or facial scanning, has emerged as the most popular verification method in recent months, some contest the depth of its security.

    More secure than a heartbeat According to Robert Capps, vice president of business development at NuData Security, using a single form of biometric data is no more secure than simply adding a second password. As he explains in an article published in Mobile Payments Today, this … more

  • Payment Innovation Takes Center Stage at Mobile World Congress

    This year's Mobile World Congress featured exciting innovations in the world of mobile payments.

    At this month's Mobile World Congress in Barcelona, Spain, some of the best minds in technology shared their ideas for what the next era of mobility will look like. Given its recent bout of attention in the mobile world, it comes as no surprise that payments and mobile wallets were among the most discussed verticals at the conference. Far more surprising, however, was some of the payment technology companies like MasterCard and Visa unveiled. Let's take a closer look at a few of the new payment technologies that made headlines at this year's MWC:

    Visa's In-Car Payments When Visa took the stage at MWC, they brought with them not a new type of payment card or smartphone technology, but a car. In partnership with Honda, Visa developed a concept app that would allow drivers of … more

  • eCommerce merchants should use AVS and card verification features

    To protect against fraud, eCommerce merchants should use AVS and card verification features.

    eCommerce businesses should use two built-in card security features when accepting card-not-present (CNP) transactions. When a transaction is submitted to the card payment processor, the authorization approval or decline response is able to determine three things: if the card is in good standing, if the card has been reported lost or stolen and if there are funds available to make the purchase. This approval or decline response is separate from two other responses that are available as card security features: address verification and the card verification value that is only printed on the physical card.

    Address Verification Service (AVS) compares the address information that the cardholder provides during checkout to what is on record for that card number at the issuing bank. There are … more

  • Global mobile payments to surpass $130 billion by 2020

    NFC-based mobile payments are growing in popularity.

    Technologies such as Apple Pay are driving increased adoption of NFC-based mobile payments, and the industry is expected to grow significantly over the course of the next few years. According to a report from Strategy Analytics, the NFC mobile payment market will exceed $130 billion by 2020. 

    This is encouraging news for an industry that took longer than initially expected to get off the ground. For years, there was talk that Apple's iPhone would contain the NFC technology needed to facilitate mobile payments at retail stores and restaurants, but it was only this year when the iPhone 6 and iPhone 6 Plus came out that the technology was finally included in the popular line of smartphones. Now that NFC is becoming more mainstream, it's expected to only grow exponentially over … more

  • How will merchants balance acceptance and costs in 2015?

    Processing mobile payments may be more important than keeping fees to a minimum.

    As merchants look ahead to a new year, now is the time to project how their role will evolve in 2015 and beyond. Technology will continue to advance well into the new year, which will provide merchants with opportunities to process payments in new and innovative ways. Of course, not every merchant is on board with new payment methods that utilize different tools like mobile phones and tablets, but increased adoption is going to be a major story in 2015. In fact, one publication has gone as far as saying this will be the most pressing issue in the merchant community next year, and it may result in other needs taking a back seat.

    There is nothing more frustrating as a consumer than getting to the front of the checkout line only to realize they do not accept your preferred method of … more

  • When implementing a payment processing system, training is of the utmost importance

    Make sure your employees are trained on all new payment processing systems.

    The payment technology industry is evolving rapidly, so it's understandable that some consumers are unsure as to what solutions are out there in the market and how they work. Those that accept these payments, whether they are restaurants or retailers, should have no such excuse. Unfortunately, some organizations have not followed necessary steps during the adoption process, which has resulted in confused employees and frustrated customers.

    Apple Pay has been live for almost two months, but not all reported participants have done their part to make the transition from traditional methods to Apple Pay seamless. When Tim Cook first unveiled Apple Pay at an iPhone event in September, McDonalds was listed as an early adopter of the technology, but the popular fast food restaurant never told … more

  • Report: 58 percent of holiday shoppers will pay with their mobile device

    This may be the first true mobile holiday shopping season.

    This may be the first true mobile holiday shopping season. While we've already examined some of the trends leading into the biggest season of the year for retailers, as the holiday season quickly approaches many have begun to examine just how big of an influence the mobile device will have on retail purchases. According to most projections, it's going to make a major difference. 

    A Deloitte study revealed that at least 58 percent of shoppers will use their mobile device to help them make purchases this holiday season. Uses vary, ranging from using a phone to find a particular store location or item to scanning and comparing prices, making purchases from mobile eCommerce sites and using the phone to pay at a POS system with NFC technology. The results ultimately … more

  • How will Apple Pay and CurrentC work together?

    The important thing to know is that mobile devices are the future of payments, so merchants must be prepared regardless.

    Apple Pay has been available for about three weeks now, and adoption is rising among both retailers and consumers. While the list of retailers currently accepting Apple Pay is well known by most in the tech world, so are those who will not accept it. A significant number or prominent retailers, many of which will play a major role in the upcoming holiday shopping season, are not going to accept Apple Pay and implement the necessary technology because they are waiting for their own system, one that won't be out until next year.

    You may have heard of the Merchant Consumer Exchange (MCX), but if not, it's an organization started by Walmart that contains a few popular retailers including Sears, CVS and Best Buy. The group got together years ago with the mission of making payments … more

  • Detailing the first 48 hours of Apple Pay

    Many believe Apple Pay is going to change the way retail works.

    On Monday, October 20, Apple released iOS 8.1, an updated version of its latest mobile operating system. With it came a number of new features and adjustments to the iOS 8 platform, but none were more notable than the launch of Apple Pay. Now, users with either an iPhone 6 or iPhone 6 Plus can update to iOS 8.1 and use Apple Pay at a number of participating retailers. 

    To get set up, users have to register a credit or debit card with their phone and take proper measures to verify that it's their card. For example, Bank of America has an Apple Pay registration department set up and users are required to call to verify that they indeed mean to attach their debit or credit card with their phone. Once this is done, they can begin to use their phone at stores such as Walgreens and … more

  • Mobile commerce plays role in curbside pickup at retail stores

    Mobile commerce can integrate with standard brick-and-mortar retail.

    The dichotomy between eCommerce and brick-and-mortar retail isn't as significant as once thought. The lines are becoming increasingly blurred as innovations in the retail space allow customers to start the purchasing process online and continue in store as they pick up their item.

    Imagine that you're at the mall and you plan to go to Best Buy to purchase a new television. You are already in the area so you could just walk to the store, wait to speak with a representative, wait to have your questions answered and then finally select the model you want before paying for it and taking it home. Or you could walk into the store having already purchased what you want so you can simply receive your item and walk out of the store without the hassles that come with traditional shopping … more