June 15, 2011 08:00 AM Eastern Daylight Time
cMoney – Provides a Safe and Total Solution
HOUSTON--(BUSINESS WIRE)--cMoney, Inc. (OTCBB:CMEY), is a Houston-based company that is at the forefront of global mobile phone-based payments and money transfers, while using the POS and ATM payment systems. The cMoney solution utilizes secure patent pending technology for mobile phone users, retailers, and financial institutions, and continues to innovate and strengthen the cMoney brand globally. In this fast moving mobile to mobile payments market segment, cMoney analyzes the weaknesses of current market competitors.
“88 flaws that could expose their user’s data…..a total of 359 bugs, about one-quarter of which were classified as high-risk.”
cMoney Solution – With the early release of the NFC application and capabilities by various companies, including Apple’s anticipated release of the iPhone 5, (now postponed: http://www.businessinsider.com/iphone-nfc-2011-3 and Google’s Mobile Wallet, using Android, there has already been a big concern for the security risk associated with transferring funds on consumers' mobile devices. It has been noted according to this one article: http://www.eweekeurope.co.uk/news/serious-security-bugs-found-in-android-kernel-11040?utm_source=dft.ba&utm_medium=link that Google’s Android has experienced “88 flaws that could expose their user’s data…..a total of 359 bugs, about one-quarter of which were classified as high-risk.” Google's (Android) integrity was also recently questioned by a Motorola executive; sighting the ability of nearly any entity to design an Android App that could maliciously access data on the user's phone and could also damage the phone handset as well. http://bit.ly/jdzg6k In a similar regard, Google recently had to use a remote kill switch to remove malicious Apps from users' phones. http://mobile.eweek.com/c/a/Security/Google-Removes-26-Apps-With-DroidDream-Light-Malware-from-Android-Market-662791/NFC is new technology to the consumers; however merchants, mobile carriers, and other affiliates are finding it difficult to troubleshoot the many problem areas. The NFC technology requires an embedded chip to be built into the cell phone that stores the consumer’s personal data leaving private information open to security risks, in the event your phone is lost or stolen. In addition, all systems using the Near Field Communications hardware ("NFC"), including Google Wallet, will be prone to possible theft of personal information and fraudulent purchases. In an article highlighting the ease with which the Starbucks mobile App was hacked, the author likened the threat to all NFC phones. http://www.nearfieldcommunicationsworld.com/2011/02/09/35844/hacker-shows-how-to-crack-starbucks-mobile-payments-app/
cMoney, by comparison, is structured to use the consumer’s existing cell phone via an uploadable application, without the purchase of an NFC phone and will provide a platform for the consumer to store and access up to (30) thirty debit and/or credit cards. The cMoney solution stores no personal information on our customer’s phone leaving them with the peace of mind that their data is always safe.
It is anticipated that the mobile to mobile payments market will explode in the next couple of years. In fact, according to this article: http://www.mobilecommercedaily.com/2011/01/26/mobile-payments-could-reach-1-trillion-by-2015-luciano-group to the tune of approximately one trillion dollars, “if retailers receive lower payment processing fees based on a more efficient system.”
cMoney competitors have a very limited means of generating revenue for their company. cMoney currently has (14) fourteen sources of generating cash flow and as the mobile payment sector continues to grow, the cMoney technology will dominate in this market, while providing consumers lower transaction fees. This is one of many reasons why cMoney will provide the consumer with the total solution.
