Tag: mobile commerce news

MasterCard to launch selfie system for mobile payments

| February 25, 2016

MasterCard is bringing its Selfie Pay system to the UK

MasterCard has announced plans to invest in facial recognition technology more aggressively in the coming years. This announcement comes as MasterCard attempts to reduce the number of false transactions that occur within the mobile space, as well as improving the security of mobile payments overall. The company has been testing its new “Selfie Pay” system in the United States and the Netherlands and will soon bring the service to the United Kingdom, though consumers will have to pay to use it.

Selfie Pay will allow people to use their pictures as a way to verify a mobile transaction

Those using the Selfie Pay system can opt to scan a picture of their face to verify mobile transactions. This picture will be stored online on MasterCard’s servers. The picture will serve as a reference for when consumers want to use facial recognition to authenticate a transaction. Because this information is difficult to tamper with, MasterCard believes that facial recognition technology could be an adequate way to protect consumer information in the mobile commerce space.

Mobile security remains a top priority for MasterCard

MasterCard has been fighting to improve mobile security for some time. The company believes that new identification systems are needed to minimize the number of fraudulent transactions being made in the mobile space. False declines are also a problem, with MasterCard noting that the value of false declines per year has reached $118 billion. This is 13 times higher than the amount lost through credit card fraud every year.

Selfie Pay system is coming to 14 countries later this year

MasterCard is preparing to launch its Selfie Pay system in 14 countries later in the year. The company notes that those testing the system have responded positively, saying that it is both easy to use and does not affect the convenience of mobile payments. With more secure systems in place, more consumers are likely to participate in the mobile commerce space. Security has been a major concern for consumers in recent years, especially as mobile commerce systems have become more prominent and attractive targets.

Docomo Digital aims to revolutionize mobile commerce

| February 22, 2016

NTT Docomo launches new commerce firm that will engage the world

NTT Docomo, Japan’s largest mobile network operator, has launched a new mobile commerce firm in the United Kingdom called Docomo Digital. The new firm is meant to promote mobile transactions throughout the world, encouraging a greater degree of financial inclusion. Docomo Digital already has the resources at its disposal to create new mobile commerce solutions that can be used by a wide range of merchants throughout the world.

Docomo Digital aims to create an inclusive digital commerce environment for all

Docomo Digital will be leveraging the experience of its parent company, NTT Docomo. Since 2009, Docomo Digital has been developing itself into an organization that will change the mobile payments space. The organization hopes to make mobile transactions and shopping more convenient, reliable, and secure. It also intends to create an ecosystem wherein merchants focused on the mobile space can thrive and connect with consumers that have become heavily reliant on smartphones and tablets to get their shopping done.

Demand for new services is rising quickly amongst mobile-centric consumers

Revolutionizing mobile commerceThe demand for comprehensive mobile payments systems has risen considerably in recent years. Many consumers are becoming more involved in the mobile space, using various devices to shop online and in physical stores. Companies have found that the mobile commerce space can be quite lucrative and have begun moving into this sector in order to take advantage of the enthusiasm of consumers. Demand for secure services is highest, which has created an opportunity for companies that are able to protect consumers information, especially those interested in shopping online.

Competition in the mobile space is growing as consumers become more fickle about new services

Docomo Digital will be competing with several other companies that have entered into the global mobile commerce market. These companies are eager to win the favor of mobile consumers, but this has proven to be quite difficult. When it comes to mobile payments services, consumers are somewhat fickle, opting to move from one service to the next relatively quickly. The services offering the most secure features are often considered the most successful in terms of customer retention.