Tag: samsung

Sony plans to launch its own mobile payments solution

| October 22, 2015

Sony will be launching FeliCa in Asia

Sony may become the next technology company to become involved in mobile payments. While Sony has no plans to compete with others in the smartphone market, it does have plans to launch its own mobile payments technology in Asia. The company is expected to launch this technology in the public transportation industry of Asia, allowing consumers to use their mobile devices to pay their transit fare. The system that Sony is working on is known as FeliCa.

Mobile payments are expanding throughout Asia

Mobile payments have become very popular in Asia, where many consumers are beginning to use their smartphones and tablets to purchase products and shop online. They are also using their devices to purchase products in physical stores that support mobile transactions. When it comes to public transportation, consumers are looking for more convenient ways to pay their fares, and they smartphones may be the best solution to this issue.

FeliCa will allow consumers to pay for public transit services

Mobile Payments - Sony StoreSony will be rolling out FeliCa in Indonesia as early as next spring. Southeast Asia, in particular, holds a great deal of promise when it comes to mobile payments. The mobile networks of this region are expanding quickly and public transportation services are becoming more advanced. As this trend continues, more consumers are expected to become involved in mobile payments. Supporting mobile transactions may help Sony establish a strong position in the mobile commerce market.

Sony could leverage its experience in mobile payments to compete with other companies

While FeliCa will be the first mobile payments system launched by Sony, the company has actually been involved in mobile commerce for a decade. Chips that facilitate mobile transactions have been used in Hong Kong’s public transportation space, where consumers use this technology to pay for transit services. Sony intends to compete with companies like Apple and Samsung which have already launched their own mobile payments platforms. These two companies have already established a lead in the mobile commerce market, but Sony may be able to leverage its expertise and prove to be a challenge to both these companies.

LoopPay hack will not affect Samsung’s mobile commerce customers

| October 13, 2015

Hack against LoopPay conducted by Chinese group

LoopPay has been targeted by hackers, which has caused concern among consumers using Samsung Pay. LoopPay was acquired by Samsung earlier this year, and this company’s technology is central to Samsung Pay. The hack was noted as being a sophisticated attack by a supposedly government-affiliated group in China. The actual attack occurred back in march of this year, but several events associated with the attack have been identified by LoopPay and Samsung since then.

Digital attacks continue to grow in frequency in the mobile commerce space

Digital attacks are becoming more common in the mobile commerce space, where a great deal of money is now flowing. Because many organizations involved in this space have very limited experience when it comes to mobile payments and the technology needed to secure them, they have become prime targets for malicious groups that seek to exploit the financial information of consumers. Over the years, large organizations have reported cyber attacks on their mobile payments systems, which has lead to the information of millions of consumers being compromised.

Samsung notes that the attack will not affect Samsung Pay users

Mobile Commerce - hackWhile the attack is considered significant, Samsung suggests that it is nothing more than an isolated incident. As such, the information associated with Samsung Pay itself, such as the financial details of consumers, has not been compromised. The company claims that those using Samsung Pay will not have to worry about their information being exploited, but consumers may want to take steps to ensure that their information is secure nonetheless.

Security continues to be a major issue for the mobile commerce space

Security, or lack thereof, has been a major problem that has plagued the mobile commerce space for years. Several companies have become involved in this sector, but they have not been able to keep up with the digital risks that exist therein. Without adequate security, consumers have begun to lose faith in mobile commerce as a whole, which has driven them to remain firmly within the realm of traditional commerce and e-commerce, where they are more comfortable.