cMoney Compares Itself to Google Mobile Payment...Says NFC Security Questionable

May 31, 2011 08:00 AM Eastern Daylight Time 

cMoney – What Competition?

HOUSTON--(BUSINESS WIRE)--cMoney, Inc., 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 system. 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, the cMoney solution takes a closer look at the Google Mobile Wallet application and its claims to send money from mobile to mobile. The comparison chart analyzes the cMoney concept versus Google's application on Android and demonstrates exactly why cMoney provides the total solution.

Ongoing Research – Our cMoney solution continues to receive positive feedback from our business and technology developers, shareholders and also consumers. All information in the table below has been gathered by cMoney:

Comparison				cMoney				Google Mobile Wallet
Use on all phone handsets?				Absolutely, the cMoney solution is a quick downloadable app. that works on ALL phones.				No, only on Android
I have an iPhone, can I use this?				Absolutely, the cMoney solution will be available through iTunes and many other resources.				No, iPhone does not run Android and all iPhones must be updated to include the NFC chip.
Banking partners?				Potentially all banks globally				Only one bank
Credit cards?				Potentially all credit/debit cards you carry.				Only one credit card provider and not Visa
Merchants POS?				Can use cMoney Solution with CURRENT POS hardware, without costly upgrades.				Installation of costly hardware before using
Usage and general availability?				The cMoney solution provides for credit card data never being revealed and can be used to: - send money from cell to cell - bank to bank - and ATM to ATM all securely from any current handset you own!!				Limited to ’partners’, who have joined Google’s program and installed the special merchant POS hardware
Storing other personal data?				- Can store up to 30 credit/debit/store loyalty cards -Store discount cards -coupons, -gift certificates - and receipt history to archive and retrieve when needed - In final negotiations with a Strategic Partner to store other personal data				Google said that consumers could store cards, driver’s licenses, IDs and other items in Google Wallet. These items may pose an increased risk of identity theft and these items aren’t ‘official’ when displayed on the phone.
Use of NFC?				Uses your current cell phone to display cMoney Pay Code (authorization code) and does not need costly NFC or merchant POS hardware upgrades.				Uses a technology called Near Field Communications (NFC) to allow contactless transactions between consumers' phones and merchants' terminals. NFC chips need to be in all phones to acquire a critical mass. Consumer’s level of security during transactions is questionable.
Use of ATMs?				The cMoney Solution acts as the consumers’ 24 hour bank giving them the ability to deposit cash, checks, send money: ATM to ATM, ATM to cell, and pay bills; all instantly and secure.				Not available through Google wallet.
Transaction dollar limits?				Unless customer has a credit line, transactions will only be limited based on the amount of available funds.				On average it’s $100.00 per day and can fluctuate in other countries.
Need for a PIN?				For enhanced security reasons, your PIN is required for all transactions.				The wallet app itself will require a PIN, as will each transaction.
Security of personal details on phone?				No personal data is ever stored on phone and all transactions to and from the phone are encrypted so identity theft is completely eliminated.				The payment credentials will be encrypted and stored on a chip, called the secure element, inside the phone. So if the phone is misplaced or stolen, valuable information could be compromised.
What if I lose my phone or it gets stolen?				No personal information is stored on the phone, so there is nothing to disable. There can be no personal information hacked.				If the phone was lost/stolen, the credit cards inside could be remotely disabled but other information could be exposed.
New technology?				Yes, although sending money from mobile to mobile has been on the market, the cMoney Solution is ahead of its time in its ability to conduct instant and secure transactions with its many features.				Google is coming to the market after a number of others and is utilizing the NFC chip which has its numerous consumer/merchant disadvantages.

Moving forward towards submission of S-1 – cMoney continues, with its previously announced partners, to prepare for the submission of its expedited Form S-1/A.

cMoney filings - Mr. Matthews, CEO of cMoney stated, “I am excited to confirm that all cMoney registration papers are current with the Nevada Secretary of State and are now ‘active filings’. Also, all OTCBB company information has been brought up to date. I am pleased to note that Yahoo Finance records our Market Cap. at $34M and we had an active trading volume on Friday of 2,354,887 shares.”

Mr. Matthews added, “I would like to take this opportunity to thank all our shareholders from around the world including Ireland, Spain, Estonia and of course America for your continuing loyalty and support. cMoney will continue to innovate, strengthen our brand, and improve on the latest technology developments allowing us to rapidly move forward towards our initial release of this exciting new financial network. The cMoney product is the total solution that has the competitive advantage which will revolutionize the mobile to mobile payment market.”

About cMoney, Inc.

cMoney, Inc., a Houston-based technology company that provides innovative secure mobile payment solutions for mobile phone users, retailers and financial institutions, has developed an innovative way to send money and pay for goods and services using a mobile phone and the text messaging system protected by patents. Scheduled to debut in 2011, the pioneering technology will create a “virtual wallet” that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks, ATM’s or credit cards are accepted. For more information, visit www.cmoney.com or contact contactus@cmoney.com

Contacts

cMoney, Inc.
Paul Matthews, CEO, 713-589-5393 ext. 105
contactus@cmoney.com

Turkey to be the special guest country at the CARTES & IDentification show

May 20, 2011 03:59 AM Eastern Daylight Time 

CARTES & IDentification 2011

PARIS--(BUSINESS WIRE)--With not only the first commercial roll-out of NFC mobile payment in Europe, but also the first national identity card in the world to include an EMV payment function, Turkey is clocking up a number of firsts in the payment, identity and mobile communications fields. In just a few years, it is also one of Europe's countries which is the most advanced in terms of credit and debit card usage. All these factors have led Turkey to be chosen as the special guest country at the CARTES & IDentification show to be held at Paris Nord Villepinte exhibition centre from 15 to 17 November 2011.

With Europe's largest ATM market, 40% growth in the number of cards produced over 5 years and dynamic implementation of new contactless solutions and loyalty programmes, Turkey offers a wealth of development opportunities.

It has already proven its ability to innovate in the chip card sector, which is enjoying rapid growth in the country. With a population of 77.8 million inhabitants, including 63 million mobile phone users, Turkey's payment industry potential is high. Contactless technologies are increasingly being adopted in urban areas, and are expected to progress further as banks battle to attract the growing number of young city-dwellers.

Very active banks and growing inter-bank business

With more than 120 million cards issued at the end of the first quarter of 2011, an increase of 53% in little more than 5 years, and a total of more than 1.8 million payment terminals in service - of which 21,000 are already contactless - the Turkish banking sector confirms its dynamism and enthusiasm for innovation. The country migrated to EMV in record time thanks to initiatives by and the coordination of BKM (Bankalararasi Kart Merkezi), the Turkish InterBank centre. Turkey also became Europe's largest ATM market. At the end of 2010, almost 28,000 machines installed included a geolocation function, allowing them to be located using a mobile phone thanks to an application developed by BKM as part of a project (ATM Sharing System) to create shared services (change of PIN, unblocking a card, etc.) on all ATMs. Until 2005-2006, the Turkish banking market stood out due to the absence of inter-bank business. Each bank issued its own cards - often co-branded with stores - and also implemented its own payment terminal and ATM infrastructure.

Agreements between banks and mobile operators

Today, firsts in the banking sector are linked to firsts in the mobile communications sector:

• The first commercial roll-out of NFC mobile payment and loyalty (Bonus Trink Program loyalty) in Europe was launched last February by Garanti Bank, the mobile phone operator Avea and Gemalto, which supplied the NFC add-on.
• Asya bank launched one of the first microSD cards to integrate a NFC function, developed by Wachdata.
• And more recently, Turkey's top mobile phone operator, Turkcell and Yapi Kredi Bank launched an NFC solution named "Turkcell Cep-T Cüzdan" with NFC accessory and e-Kart Electronic Card Systems supplier OTC. The solution's "personalizer" also acts as a TSM (Trusted Service Manager).

These initiatives are not just European firsts, they are in fact technical firsts. All the technologies used make it possible to transform any telephone on the market (with the exception of the iPhone, although developments are in progress to render it compatible) into a NFC telephone.

In the mobile payments arena, it is true that interbank coordination efforts have not produced the results seen with the EMV card in the 2000s, but work is in progress at BKM to create an independent TSM platform capable of providing shared services to both banks and mobile phone operators (mainly Turkcell and Avea).

Service companies working on access control and transport

A large number of Turkish service companies and integrators are already ready to support the roll-out of contactless and NFC into all imaginable areas.

One example of this is Oytek, which specialises in developing middlewares (NFC midlets) and NFC kiosks.

Another example is KentKart, which has developed a transport card which can be recharged online (Infinite City Card), and is extending its range, which until now was based around access products such as contactless readers and validators, to include service platforms dedicated to processing transactions.

Some other examples are Belbim (validator for transport) and PDKs which has developed tickets and a complete range of electronic passes.

With its 15 million inhabitants, Istanbul is poised to become one of the world's most significant contactless, and undoubtedly NFC, cities.

The first national identity card to include an EMV payment function

Turkey's national identity card is currently the world's first chip card issued by a state to include a bank payment function (EMV). This card, developed by the UEKAE state institute's R&D teams, includes multiple contact and contactless applications and uses a highly secure operating system (AKiS, short for Akıllı Kart İşletim Sistemi), based on a chip which is itself also highly secure (EAL5+). For example, the identity and banking applications are separated by a firewall. 20,000 cards constituting an initial pilot phase were issued last summer in the town of Bolu, with applications for authentication at doctor's surgeries and hospitals. The success of this first phase was followed by an equally successful second phase to test the biometric e-passport function, which complies with the global ICAO standard; a third phase began in March with a new version of the card which now complies with the European Citizen Card standard, and will offer a bank payment function. Several banks have already become involved with this option, for which the use of MasterCard's M'Chip solution is planned. Initialisation and multi-personalisation plans have been drawn up. The government has yet to approve the final phase, but approval appears to be a foregone conclusion. Roll-out is expected in 2012 with the issue of 75 million cards.

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To meet the players from the Turkish cards and digital security sectors, and take part in the conferences and round tables alongside Turkish experts, visit CARTES & IDentification between 15 and 17 November this year.

To access the latest news on CARTES & IDentification:
www.cartes.com / www.blogcartes.com

INSIDE Secure Showcases Expanded Product Portfolio at Cards Brazil 2011

April 26, 2011 08:14 AM Eastern Daylight Time 

Broad Range of Products for Secure Transactions and Digital Identity

AIX-EN-PROVENCE, France--(BUSINESS WIRE)--Continuing its commitment to the Latin American market, INSIDE Secure, a leader in semiconductor solutions for secure transactions and digital identity, today announced it will be participating at the upcoming Cards Brazil 2011 conference and exhibition being held May 2-4 in São Paulo, Brazil. At the conference, an INSIDE executive will be speaking about near field communication (NFC), and the INSIDE team will be demonstrating and discussing the versatility of the company’s portfolio of secure microcontrollers, secure solutions, smart card readers and NFC products.

“With our newly expanded portfolio of products and solutions, INSIDE is now able to address a much broader range of applications for customers in Brazil and the rest of Latin America, and I am looking forward to presenting our ideas at this conference”

INSIDE Secure also announced it has engaged the services of Kobama Representações of São Paulo, Brazil as sales representatives for Brazil. Kobama specializes in representing electronic components manufacturers.

INSIDE Secure will be exhibiting at Cards Brazil 2011 in Booth 3 in the Frei Caneca Convention Center, where INSIDE will have technical and product experts available in the booth to discuss products and solutions. INSIDE and its partners will present a number of demonstrations underscoring the versatility of INSIDE’s solutions for secure transactions and e-ID applications, highlighting INSIDE’s contact and contactless smart card processor and smart card reader solutions, VaultIC™ security module, SecuRead™ system-in-package NFC solution and other secure products and solutions.

Conference attendees also will be able to hear Bertrand Moussel, INSIDE’s executive vice president of worldwide sales, discuss the application of NFC technology into mobile commerce. Mr. Moussel will make his presentation, “NFC: Moving to Mobile Commerce,” on Wednesday, May 4 at 11:45 a.m. as part of Forum 9, New Technologies: Trends and New Applications for the Card Industry conference session.

“With our newly expanded portfolio of products and solutions, INSIDE is now able to address a much broader range of applications for customers in Brazil and the rest of Latin America, and I am looking forward to presenting our ideas at this conference,” said Mr. Moussel, “With the help of our partners, we have already established ourselves as one of the technology leaders in this exciting market, and we intend to continue our commitment and seek new opportunities to further strengthen our position.”

INSIDE will demonstrate loading an e-ID photograph into a dual-interface smart card through a contact reader and retrieving it again using a contactless reader. Another demonstration will show how INSIDE’s VaultIC turnkey security module can be used in a USB e-Token to provide a cost-effective solution for portable authentication. INSIDE will also demonstrate mobile devices used for payment, access control, transit fares and ICAO e-ID applications.

Cards Brazil, an annual conference and exhibition on cards, services and technologies, is the largest card industry event in Latin America.

About INSIDE Secure

INSIDE’s secure semiconductor products power smart cards, mobile devices, acceptance devices and infrastructure systems. The company’s expertise in microcontroller architectures, security, RF/analog design, and vertical market requirements places the company in the forefront of secure contactless, contact, embedded and NFC technologies. INSIDE's innovation, collaboration with customers and commitment to open standards have earned it a leadership position in markets worldwide. INSIDE is headquartered in Aix-en-Provence, France, with offices in Europe, Asia and Silicon Valley. For more information, please visit www.insidesecure.com.

Contacts

Corman Communications, LLC
Patrick Corman, +1-650-326-9648
patrick@cormancom.com
www.cormancom.com
or
Andrew Lloyd & Associates
Juliette dos Santos, + 33 1 56 54 07 00
juliette@ala.com
Neil Hunter, +44 1273 675 100
neil@ala.com
or
INSIDE Secure
Geraldine Sauniere, +33 (0) 4 42 39 33 01
Marcom Director

Visa Europe to Invest $273 Million in Development of Contactless Payments by Card and Mobile

Visa Europe has announced plans to spend more than $273 million on R&D for contactless payments via card and mobile device, according to nearfieldcommunicationsworld.com



The announcement was made by Marc O’Brien, Visa Europe’s head of UK and Ireland, during a visit to Dublin to market contactless cards and NFC payment to Irish banks.



According to O’Brien, Visa spent €800 million over the last five years on R&D, out of which €170 million went into chip and PIN.



“[Visa Europe] envisages spending a further €200 million on R&D into low-value contactless payments by card and mobile device,” O’Brien added.



Irish banks Ulster and Halifax have already begun issuing contactless Visa Debit cards, with more to follow as the investment comes to fruition.

Looking to the future, O'Brien said Visa is hard at work researching and developing new ways for people to pay and one of the areas being given serious consideration is contactless payments via mobile phones using near field communication (NFC). 



"M-commerce is a strategic priority," says Visa Europe's head of UK and Ireland, "we are working and talking with all the mobile operators and handset manufacturers to develop standards for payment on mobile phones."

O'Brien says Visa spent €800 million over the last five years on R&D, out of which €170 million went into chip and PIN. "We envisage spending a further €200 million on R&D into low-value contactless payments by card and mobile device."

Read more here.

Related articles by Zemanta

• Contactless bank cards 'to flood UK', says Visa (telegraph.co.uk)


• Visa Europe Says UK Debit Card Use to Exceed Cash for First Time (pindebit.blogspot.com)


• INSIDE Contactless Releases Open-Source NFC Protocol Stack (eon.businesswire.com)


• Visa Beats Expectations Thanks to Debit Card Strength (dailyfinance.com)


• U.K. Card Fraud Report (pindebit.blogspot.com)

400 Million Mobile Ticketing Users by 2013?

Juniper forecasts over 400 million mobile ticketing users by 2013

Hampshire, UK, Oct. 21, 2008 -- New research has forecast that over 400 million mobile subscribers worldwide will use their mobile phones for ticketing by 2013. However, the study concluded that trials and pilots are not being implemented into full mobile ticketing services as quickly as expected for several reasons including bar code reading issues, lack of reader infrastructure and availability of NFC (Near Field Communications) handsets.

The Juniper Research report found that the leading sector will be transport, followed by entertainment and then sporting events. The Far East and China region is leading the market, driven by adoption in Japan particularly amongst rail travellers. In addition airlines are beginning to offer mobile ticket purchasing. Outside the transport segment, the report identified a number of ground-breaking trials and services, such as by cinema chains in India which buys 37% of all movie tickets sold worldwide. In addition a number of football and baseball teams are beginning to offer mobile options for ticket purchase and delivery; however, many venues still require a printed ticket to gain entry.

Juniper report author Howard Wilcox pointed out: “Mobile ticketing offers exciting new opportunities for ticket issuers to achieve increased sales including targeted last-minute sales campaigns. For example, tickets for the sporting event or movie happening ‘tomorrow’ or ‘tonight’ could be marketed directly to known fans.”

However, Wilcox warned that whilst NFC mobile user trial results such as O2 in London and BART in San Francisco have been encouraging, market traction will be determined by the availability of NFC phones and the speed of installation of NFC readers.

Juniper Research determines the current status and prospects of mobile ticketing with analysis and interviews with some of the leading organisations in the growing mobile ticketing market.

Key findings from the report include:

• Total gross mobile ticketing transaction value will reach $92 billion by 2013.
• The Far East & China region, together with Western Europe and North America will represent in excess of 80% of this global gross transaction value by 2013.
• Mobile ticketing must “make life easier” for users. In this respect, NFC, with its convenience, is a crucial development.
• NFC will reach its tipping point over the 2011 to 2013 period.

White papers and further details of the study 'Mobile Ticketing: Transport, Sport, Entertainment & Events 2008-2013' can be freely downloaded from http://www.juniperresearch.com/ . Alternatively please contact John Levett at john.levett@juniperresearch.com, telephone +44(0)1256 830002.

Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.

Source: Company press release.

For more news and information about opportunities in the prepaid sphere, visit www.sellingprepaid.com