Mobile payments are referred to the transactions that is performed through mobile device instead of paying through cash, checks, or physical credit cards. It is also known as m-payment, mobile money, mobile money transfer, or mobile wallet, are transactions made or received via mobile devices. Mobile payments can be used as an alternative to credit cards as it is more convenient and secure. The traditional credit cards store consumers’ information on the merchant’s point-of-sale (POS) terminals, while mobile payments don’t. When utilizing a mobile pay, mobile device serves as a security token and creates a random code for the transaction, which makes the transaction more secure.
The adoption rate for mobile payments is growing along with technological advancements due to which the market is expected to grow over the forecast period. The advantages of mobile payment include delivering convenience, improving sales, and retain customers. Also, governments initiative to boost financial inclusion and reduce the use of cash is fuelling rapid growth in electronic payment. In order to match up to financial inclusion, rapid expansion of new technologies and innovations are taking place which are helping to make it more feasible for banks to reach the unbanked populations are other factors expected to fuel the growth of the market over the forecast period. However, rising concerns about the security is the major factor expected to restrain market growth over the forecast period. Due to over the air transaction customers’ data can be hacked and misused. Also, increasing transaction volumes causes delay resulting in customer attrition which may hamper the growth of the global mobile payments market. Here, companies are coming up with new convenient solutions in order to meet changing customer expectations.
The global mobile payments market report has been segmented on the basis of purchase, type, and region. On the basis of region, the global mobile payments market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Increasing mandates around the security of personal data have made encryption for every business. Australian businesses are leading the world in the use of encryption to protect backups, payment-related data, and laptops – and yet they still have a long way to go before encryption is both ubiquitous and manageable.
If your last access-control update was even a few years ago, you’re probably more exposed to fraud and exploitation than you’d like to be.
It’s not hard to understand why bot management is critical to maintaining business availability and customer satisfaction – but do you know how to properly deal with bots?
Increasing use of encryption has created new challenges for enterprise security managers. Ever more-sophisticated encryption such as Perfect Forward Secrecy (PFS) protects data and may even boost your Google ranking – but it also provides a haven for malicious code that may use encryption to bypass enterprise security controls.
Why nation-state attacks are everyone’s problem