Tag: mobile wallets

New mobile wallet released in rapidly growing mobile payments market

| February 18, 2015

Bank introduces the Rabo Wallet, which supports NFC-based mobile payments

Rabobank, a Dutch multinational bank, has launched a new application that will facilitate mobile payments. The app supports NFC technology and is currently available for the Samsung Galaxy S4 and Galaxy Note 3. Named Rabo Wallet, the new app serves as the bank’s next step in engaging mobile consumers. With mobile payments growing more popular throughout the world, banks have begun to launch services that support these transactions in order to meet the needs of their customers.

Companies partner to make a new mobile payments platform possible

Rabobank has partnered with Giesecke & Devrient and Samsung in order to launch the new application. This partnership has made it possible for the companies to engage mobile consumers more effectively and will make use of services and technologies developed by both Giesecke & Devrient and Samsung. These services are expected to make Rabo Wallet a valuable tool for consumers that are interested in making payments with their mobile devices, balance their bank accounts, and store loyalty points that are offered by retailers.

Mobile wallet features are becoming more popular as consumers show greater interest in mobile paymentsmobile wallet

Mobile wallets are quite similar to their physical counterparts. These applications are designed to store financial information digitally, making it easier to access this information. These applications are widely used by those that wish to conduct mobile payments and several mobile wallets have been released in the past two years. There is a great deal of competition in the mobile payments space because of the number of wallet applications that are currently available, making it difficult for a singular platform to stand out among consumers.

Rabobank may help bring more security to the digital payments space

Mobile wallets have recently come under harsh criticism for their exposure to digital threats. Many platforms do not have the adequate security measures in place to stop hackers from stealing consumer financial information. Rabobank has extensive experience when it comes to security, however, which may ensure that Rabo Wallet is able to keep the information of its users safe from exploitation.

Apple may be winning the mobile payments battle

| February 3, 2015

Apple Pay continues to gain momentum among consumers and businesses alike

Apple may be winning the war of mobile wallets. The company launched its new Apple Pay service three months ago and has already managed to make a significant impact on the mobile payments space. Apple has managed to beat other services in terms of mobile payments volume, despite these services having been around longer. Apple Pay has found success because of numerous reasons, one of which has to do with how secure the service is.

Apple Pay may be the most secure mobile payments solution currently available

Security has become a major issue in the digital world. Recent data breaches that have struck companies like Target and Sony have highlighted the dangers that exist in the online space. Mobile payments are also at risk, because services like Apple Pay deal in trafficking financial information. As such, malicious groups have taken interest in mobile platforms, seeking ways to take advantage of consumer information. Apple Pay has managed to offer a secure solution for those that are interested in mobile payments.

Biometric technology helps Apple protect consumer information from exploitation

Mobile Payments - Apple iPhone 6Apple Pay has become one of the most secure mobile platforms currently available. The service makes use of biometric technology, which allows transactions to be authorized using a fingerprint. This has fostered more confidence among consumers and has helped Apple Pay gain more favor. Though the service is considered very secure, there are some issues that have slowed its adoption among consumers.

Limited support for cards and banks counts as a detractor for Apple Pay

Apple Pay supports a limited number of card types and banks, which makes it impossible to use for some people. Corporate cards are also not supported, which limits the service’s appeal to enterprise customers. The service is still quite young, so Apple may choose to add more support for various card types in the future. Currently, however, this limited support serves as a detractor when compared to other mobile payments services that are available from companies like Google and PayPal.