“Securing” the consumer experience in Mobile Payments

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According to Ovum, to support revenue growth banks need to focus on customer experience and production innovation. How can mobile payments help financial institutions re-engage with their consumers? And what role does security play in this?

Paying for something is the last thing anyone wants to do. What if it could be made into an experience – where you have, at least, the feeling of being in control of your finances or even getting rewarded for spending your hard earned cash? Mobile changes the banking experience.

Tipping point of trust in mobile payments

Irdeto_Perspective_tipping_point_mobile_payments

Finally mobile payment is starting to take off. Yet, for it to become a true success story, establishing trust is paramount. The question is, is software security the hero or villain of this story?

How safe is it?
Security and fraud prevention concerns are key drivers in the slow uptake of mobile payments. Can someone else use my smart phone to make purchases?
Identity verification and device based authentication are the cornerstones for any mobile payment transaction.