Industry and Consumer Concerns Grow for Secure Mobile Payments
Admeris Meets Demand for Smartphone Payment Security
The explosion of new mobile payment products entering the market and the rapid rise in smartphone transactions has raised concerns between cyber security experts and consumer organizations with increasing calls to implement protective standards for mobile payments.
Leading academics in computer science and cryptography suggest many mcommerce payment solutions have sacrificed security for convenience which is a frightening prospect. A recent study confirmed that 61% of iPhone users and 46% of Android users want the option to make secure mobile transactions from their smartphone. Admeris' intelligently-designed PCI-compliant OneTouch mobile payments platform was developed to meet five security objectives the company believes is necessary to process secure mobile payment transactions.
The security objectives include:
- Confidentiality based on strong cryptographic security design
- Authentication based on dual-layer technology that encrypts non-personal smartphone identification with customer credit card information
- Integrity which ensures that all transaction information remains intact and unalterable with strong cryptographic digital signatures
- Authorization which guarantees that all parties involved in the transaction are permitted to do so with the use of digital certificates
- Non-repudiation to ensure that any transaction was not made on a customer's behalf without their knowledge with the use of digital signatures
Consumer Reports, a nonprofit testing and information organization, has raised calls for protective mobile payment policies which Admeris supports and applauds. Admeris' OneTouch mobile commerce solution protects consumers and merchants with proactive policies to reduce fraud, charge disputes or processing mistakes. Merchants have chosen Admeris to process mobile transactions today - without having to wait for complicated wallet or infrastructure solutions that may be years from reality in the market. Consumers can enjoy one-touch convenience on repeat transactions without the need for account setup or login, leading to higher conversion and impulse purchases.
"We've worked with the foremost leaders in cryptography and have created a highly secure yet simplified way to transact using a credit or debit card on a mobile phone," says Simon Law, Chief Technology Officer for Admeris. "We're confident about meeting merchant, consumer and industry security demands."
To learn more about Admeris' leading PCI-compliant Mcommerce platform, please visit: http://www.admeris.com/mcommerce.
To sign-up for merchant processing and mobile payments, please visit: https://signup.admeris.com/quoteGet.jsp.
