The battle for secure mobile payment
February 13, 2012 Leave a Comment
When we talk about mobile payments we usually get the same reaction from people: excitement and trepidation. Human beings love convenience and gadgets that make everyday life easier. That said, we’re not naive. Especially when it comes to our money.
Like all new technologies, NFC mobile wallets come with their own security issues. The biggest hindrance to the mobile payment industry is security and consumer education on the matter. Last year, 71% of executives around the world cited security as the main challenge facing the mobile payment industry [KPMG Mobile Payments Outlook], and 61% of British consumers need more reassurance that contactless technology is secure [Ingenico].
Big brands and card issuers need to do more to calm the fears if mobile payments are ever going to become part of everyday life. But us techies can help too! Since we developed Touch Safe back in 2010, we’ve been commited to improving contactless payment security and last week announced our collaboration with ARM who have a wealth of experience in creating highly scalable, secure systems. The collaboration will focus on designing secure environments for NFC mobile contactless payments and mobile internet payments. We’ll be announcing details of what we’re working on within the next few weeks so watch this space!





Going beyond payment, Proxama’s Chief Exec, Neil Garner will be presenting at tomorrow’s Travel 2020 event. Neil will review what’s been happening with NFC within the transport sector and explore the direction in which the technology is heading. Having only last month spoken to