Tag: mobile wallets

This will give the users of the application the opportunity to use a new type of transaction through their smartphones.

A mobile wallet based in India, Paytm, has now announced the introduction of a new feature that will give 25 million users the ability to transfer funds to their bank accounts through the use of their smartphones.

This company is operated by One97, which is a business that is backed by Alibaba, the Chinese e-giant.

Mobile wallets have been rapidly rising in popularity in India. This country is one of the markets in the world where this type of smartphone based payments app has the best chances of success, due to the massive population and the low adoption of credit cards. Many merchants, including online retailers, have had to come up with ways to process transactions through cash. In fact, the current estimate is that even though there are more than a billion people in the country, there are only 450 million bank accounts, not all of which are considered to be actively used.

Mobile wallets provide users with greater reliability than cash without having to obtain a bank account.

That said, for those individuals who do have bank accounts, Paytm has now announced that its mobile payments app – which is supported by many different retailers and services, including Uber – has boosted the versatility of its offerings for the management of small floats of cash.

The users of the Immediate Payment Service (IMPS) mobile apps are now able to transfer up to $80 (5,000 INR) per day, and they can make transfers of up to $400 (25,000 INR) per month. The minimum transfer amount is $16 (1,000 INR). The sender needs to have at least $32 (2,000 INR) in credit available to them in order to make the transfer.

This is not the first time that One97 has discussed this new feature, but considering the fact that Alibaba made an investment into the company in February, it is now starting to gain a great deal more attention. That agreement brought an estimated $200 million investment to One97, valuing it at $1 billion and bringing the Chinese e-commerce giant into India for the first time. That company is already wildly successful for its own mobile wallet and payments service, Alipay.

Study highlights the changing support that is coming from mobile consumers

When it comes to commerce security, Bitcoin may be safer than mobile wallets, according to a new study from Walker Sands. Security has become a major topic among consumers since the advent of mobile commerce. More people are using their mobile devices to shop for and purchase products, which has highlighted the security risks that exist in the digital space. When it comes to protecting financial information, the study shows that consumers believe that cryptocurrency is the safest way to stay protected.

Cyrptocurrency is considered more secure for mobile commerce than mobile wallets

Cyrptocurrency is a medium of exchange that leverages cryptography to make transactions more secure than they would be on their own. Bitcoin is one of the more popular forms of this currency, but these currencies are not generally well supported by government and banking organizations. The study from Walker Sands shows that 3% of consumers believe that Bitcoin, and similar currencies, are more secure when making transactions online. By comparison, 1% of consumers believe that mobile wallets are safe to use.

Mobile commerce has become a target for malicious groups that want to steal financial information from consumers and businesses

Mobile commerce has become a very attractive target for malicious groups that want to exploit the financial information of consumers. Some mobile wallets have been targeted by these groups, some of whom are exploiting the security flaws of mobile commerce platforms. Not all platforms are dangerous to use, of course, and those that are targeted tend to become more secure in a very short amount of time after a malicious attack.

Businesses are becoming more active in making mobile commerce more secure

The study shows that the majority of consumers (56%) believe that cash is still the most secure way to make a purchase. Credit cards follow behind cash. The study has taken note of the changes in consumer behavior, especially concerning security issues. The study also shows that retailers and other businesses are taking steps to make mobile commerce more secure and attractive to consumers.