Friday, July 8, 2011

Infographic: The Future of Mobile Payments

From Mashable: Professional community service G+ decided to look deeper into mobile payment trends and created an infographic that tracks what experts and analysts believe will happen to mobile commerce in the next four years, including what will happen with near field communication (NFC). G+ also compared some of the current players in the mobile payment space.

Check out the infographic below, but first, keep in mind that smart or not, phones are inherently insecure. The infographic is great but with 670 Billion in mobile money transactions expected by 2015, don't "unexpect" hackers to fully concentrate their efforts in getting a big piece of that pie. Enter NFC Data. They have introduced Sqwizz to fully secure every NFC transaction via an encrypted PIN Pad and biometric scanner. Sure you can start your car with your phone, but wouldn't it make more sense to verify you are the car owner through a quick biometric scan first? Sure, it's convenient to pay with your smartphone, but doesn't it make more sense to do it over an encrypted platform which verifies you are the one who actually wants to conduct the transaction? The biometric scanner verifies your identity and activates the secure 3DES DUKPT Encrypted PIN Pad which requests your PIN. Enter it and Sqwizz protected your hard earned cash from the hackers.

For more information on Sqwizz, visit www.Sqwizz.com or email me.

With $5 Million Round, Mobibucks Is Latest NFC Alternative to Draw Investors
Jul. 7, 2011

While point-of-sale payments using near-field communication (NFC) technology appear to be drawing closer, systems that let consumers make mobile payments in stores without NFC are drawing investor interest. This week, Mobibucks, a Louisville, Ky.-based startup, announced a $5 million Series A funding round led by Acadia Woods Partners. The Mobibucks investment follows news this spring that American Express Co. had joined BlackBerry maker Research in Motion Ltd., Verizon Communications Inc., and other investors in a $19 million funding round for New York City-based Payfone Inc read more at Digital Transactions

Use a MasterCard Prepaid Card and Get Two Free Movie Pics

July 07, 2011 01:00 PM Eastern Daylight Time

Moviegoers Can “Get Loot” When They Purchase and Use a MasterCard Prepaid Card

New Campaign Rewards U.S. Prepaid Cardholders with Free Movie Tickets and the Opportunity to Win a Priceless Movie Premiere Experience

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Worldwide today announced the launch of “Get Loot,” an entertainment-based program that offers U.S. consumers and avid movie fans the opportunity to experience the movies with friends and family like never before by using a MasterCard Prepaid card.

“Now, consumers who get and use a MasterCard Prepaid card can enjoy the safety and convenience of electronic payments versus cash, and get rewarded for one of their favorite summer activities.”

From July 1 through the end of October, consumers who get and load funds on participating reloadable MasterCard Prepaid cards will receive two free movie tickets while supplies last.* In addition, every time they use the card between July 1 and December 31, cardholders will be automatically entered for a chance to win an ultimate priceless experience – a VIP all-expenses paid trip to a 2012 movie premiere.**

To participate in the promotion and receive free movie tickets, consumers can get a MasterCard Prepaid card online or in-store fromWestern Union beginning in July and online from NetSpend starting in August. The reloadable prepaid MasterCard cards offer cardholders a secure and convenient way to shop and pay bills online, track purchases and stay in control of their budget. More information about the campaign can be found on MasterCard’s Facebook page and consumers can learn more about the benefits of MasterCard Prepaid cards on MasterCard’s website.

“With ‘Get Loot,’ we are making this summer priceless for U.S. consumers who are passionate about going to the movies and sharing those experiences with their friends and family,” said Brett Adams, Prepaid Lead, U.S. Markets, MasterCard Worldwide. “Now, consumers who get and use a MasterCard Prepaid card can enjoy the safety and convenience of electronic payments versus cash, and get rewarded for one of their favorite summer activities.”

Throughout the campaign, avid moviegoers will have the opportunity to win additional “loot” via surprise in-theater promotions at select theaters across the country. The campaign will be supported by online and mobile marketing, as well as in-theater lobby posters.

* Tickets are valid in participating movie theaters.

** NO PURCHASE NECESSARY. Void where prohibited. Starts 7/1/11. Ends 12/31/11. Restrictions apply. For official rules and additional terms and conditions, click here.

About MasterCard Worldwide

As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl®. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.

Contacts

MasterCard Worldwide Communications
Dwain Schenck, 914-249-4199
dwain_schenck@mastercard.com

China Mobile Payments Market Industry Report 2010-2011

July 07, 2011 02:47 PM Eastern Daylight Time

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "China Mobile Payment Industry Report, 2010-2011" report to their offering.

Chinese mobile payment industry has progressed rapidly since 2011. The penetration rate of Chinese mobile payment market was merely 18.5% in 2010, and it will hit 25.8% in 2011; while the market size and transaction value turned out to be respectively RMB2.845 billion and RMB10.42 billion in 2010, but the former will rise 97.7% to RMB5.625 billion and the latter is predicted to expand 308.6% to RMB42.16 billion in 2011.

Chinese mobile payment industry involves mobile operators, financial institutions, the third-party payment operators, and various device manufacturers, with multiple cooperation forms. The gaming between the dominant China Mobile and China UnionPay will bring along the long-term coexistence of parallel model and integration model.

In terms of parallel model, China Mobile develops payment platform based mobile payment business by virtue of the existing mobile accounts or establishing single accounts; while China UnionPay adopts bank card binding and the settlement via the cooperated payment platforms.

As for integration model, China Mobile and China UnionPay have reached an agreement to set up the joint account and payment platform and practice the profit sharing by certain proportion.

In May 2011, China UnionPay and the Top 3 operators unanimously agreed on the technical standards of mobile payment: near-field payment employs NFC standard (13.56MHz), while 2.4GHz plan is merely for closed application environment and not allowed in financial circulation sector. The 2.4GHz RF-SIM technology highlighted by China Mobile will fade from the mobile payment stage.

NFC-SD, the mobile payment standard product of China UnionPay, came into Chengdu market in April 2011. Such commercial banks as Bank of Communications and Huaxia Bank have collaborated with China UnionPay and launched NFC mobile payment business.

Considering the telecommunication operators, China Mobile has transferred its mobile payment plan to NFC (13.56MHz) from RF-SIM (2.4GHz), and its bank partner is Shanghai Pudong Development Bank (SPD Bank). China Unicom has chosen the SIMpass (13.56MHz) solution of Watchdata and its cooperative banks cover Pingan Bank, Huaxia Bank, and Industrial Bank. China Telecom also emphasizes SIMpass (13.56MHz) provided by Watchdata and has released Tianyi Great Wall Card with Bank of China.

Among the first group of 27 enterprises who have obtained the third-party payment license, there are four UnionPay series enterprises, i.e. Beijing Unionpay Merchant Services Co., Ltd., Beijing Digital Wangfujing Technology Co., Ltd., Shanghai ChinaPay E-Payment Service Co., Ltd, and Guangzhou UnionPay, while UMPay under China Mobile is not nominated. 11 enterprises are qualified for mobile payment business.

With provision for the manufacturers of mobile payment hardware devices, Fudan Microelectronics and Nationz Technologies are the major suppliers of NFC chip solutions and RF-SIM chip solutions, respectively; Hengbao and Watchdata mainly offers 13.56MHz mobile payment card; Shenzhen Netcom Electronics Co., Ltd., Hanyin Technology, Westone, etc. are the providers of NFC-SD card solutions.

Key Topics Covered:

1. Overview of Mobile Payment

2 China Mobile Payment Market Size and Current Development

3 China Mobile Payment Business Model

4 Mobile Payment Industry Chain

5 Enterprises

Companies Mentioned:

China Mobile
China Unicom
China Telecom
Hi Sun (00818.HK)
UMPay
Talkweb Information System
Fudan Microelectronics (8201.HK)
Hengbao (002104)
Watchdata
Eastcompeace
Shanghai COS Software Co., Ltd
Wuhan Tianyu Information Industry Co., Ltd. (Tianyu) (300205)
Shenzhen Netcom Electronics Co., Ltd.
Hanyin Technology
Westone (002268)
Jiangsu Changjiang Electronics Technology Co., Ltd (JCET)
Fujitsu Microelectronics
Nantian Information
ZhengTong Electronics
Newland Group

For more information visit http://www.researchandmarkets.com/research/df89b4/china_mobile_payme

Contacts

Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Bank Loans/Credit Cards Account for 20% of ID Theft

July 08, 2011 10:53 AM Eastern Daylight Time

Bank Loans/Credit Cards Account for Just 20% of Identity Theft

While most consumers concentrate on protecting credit cards and banking from identity theft, they are missing 80% of possible risk

NORWALK, Conn.--(BUSINESS WIRE)--According to IdentityHawk^SM data, 17% of consumers have personally been victims of identity theft, and 28% of households have at least one victim of identity theft. Analysis shows that the percent of identity theft from credit accounts was just 20% of total identity theft. The other 80% was comprised of the following:

15% Trading SSN (Social Security number), CCN (credit card numbers) and other personal data (usernames & passwords) (doesn't that make it 35%?)
16% Bank account debit
10% False address
10% Government documents & benefits fraud
8% Electronic funds transfer
8% Wireless accounts
6% Utility account fraud
4% Telephone accounts
3% Evading the law

IdentityHawk, is a leading identity protection service that aggressively zeroes in on potential threats to help consumers safeguard their identity.

According to Jeff Paradise, executive director of IdentityHawk, “Eighty percent of all losses related to identity theft happen outside the credit system -- and the earliest detection that an identity might be compromised occur with a breach like a false address. Consumers need a means of preventing identity fraud which is both comprehensive and vigilant that finds inconsistencies in identity information early, so members are notified to take action before identity fraud occurs.”

About IdentityHawk

IdentityHawk is a leading identity protection service that aggressively zeroes in on potential threats to help consumers safeguard their identity. Members are warned of potential identity risks so they can take steps to stop fraud before it starts. IdentityHawk is a product of FYI Direct, Inc., a leader in direct-to-consumer credit and identity protection services. For more information, go to www.identityhawk.com.