Tag: samsung

MCX plans to test mobile commerce platform in Ohio

| September 14, 2015

MCX will be testing CurrentC among large retail partners in Ohio

The Merchant Consumer Exchange (MCX) is planning to begin testing its new mobile commerce platform, CurrentC, among its large retail partners in Ohio. MCX was established as a partnership among several large retailers, including Target and Walmart. These retailers had taken note of the rise in mobile shopping and have felt the need to engage consumers more effectively. As such, MCX was tasked with developing a mobile commerce platform that would serve this purpose.

Test may determine the launch of the new mobile commerce platform

Ohio will host the first major test of the new mobile commerce platform. The service will allow retailers to support mobile payments being made by customers. Those with smartphones will be able to use the service to make transactions directly from their device. The platform itself has been in development for some time, with the retail partners of MCX showing some impatience when it comes to waiting for a service they can use. Based on the test results in Ohio, CurrentC may see a limited launch next year or within the coming months.

Retailers are beginning to seek out other platforms they can use

Mobile Commerce Platform being tested in OhioInitially, MCX partners has agreed not to support any other mobile commerce platform while they waiting for CurrentC to be released. This agreement is set to expire within the coming week, however, which will allow retailers to embrace other platforms, such as those coming from Google, Apple, and Samsung. Being able to embrace other platforms will provide retailers with a way to effectively engage mobile consumers, but it may be bad news for CurrentC, which has already struggled to maintain the support of retailers.

Security remains a primary concern for those interested in mobile commerce

One of the issues facing mobile commerce as a whole is security. Many retailers have shown concern for the security of consumer financial information when they are participating in mobile commerce. Creating secure platforms has proven somewhat complicated, however, as methods to exploit these platforms have been growing more sophisticated.

Samsung partners with Gemalto to prepare for launch of mobile payments service in Europe

| September 9, 2015

Mobile payments may be growing more secure in Europe thanks to new partnership

Samsung has partnered with Gemalto, an international digital security company, in order to ease the launch of Samsung Pay in Europe. With mobile payments growing in popularity, the demand for secure services is on the rise. Consumers have expressed concern regarding the security of mobile transactions, with many opting not to use their devices to make purchases because their financial information may be at risk of exploitation. Improved security may make mobile payments services more attractive to consumers.

Samsung will leverage tokenization to make transactions more secure

Samsung will be using Gemalto’s Allynis Trusted Service Hub product for its new service. This will allow payments made through Samsung Pay to be more secure as the Allynis Trusted Service Hub makes use of a system that manages payment credentials and it leverages tokenization services. Tokenization replaces a consumer’s financial information with digital tokens, which are used to authenticate payments. Each token is unique for the transaction and does not contain actual financial information. As such, these tokens represent a safe and secure way for consumers to participate in mobile payments.

Mobile payments service has already attracted praise

Partnership - Mobile Payments EuropeThe new mobile payments service has already launched in South Korea, and Samsung intends to launch the service in the United States in late September. Thus far, consumers have shown interest in the service and have praised its convenience. Samsung Pay makes use of NFC technology and magnetic secure transmissions, allowing it to be used in many major retail stores. The technology powering the service was developed by LoopPay, which was acquired by Samsung earlier this year.

Improved security may ensure that more consumers participate in mobile commerce

Improving security will help mobile payments find more support among consumers. While consumers are interested in using their mobile devices to make purchases, they are wary of doing so because of the security risks associated with such actions. In the past, security breaches have shown just how much of a financial impact malicious attacks can have on consumers and businesses when it comes to the mobile payments space.