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How is the PCI Security Standards Council (SSC) addressing data security for mobile payments?  Well, they are working on it, but not fast enough.

The smart phone application market is booming with some very clever and useful tools.  However, this open source development wave is also enabling the creation of mobile payment applications that may not be secure enough to protect sensitive data.  Continue reading "Where Are We With PCI Compliance and Mobile Payments?"

Last month’s blog discussed the concept of leaving your wallet at home and using your mobile phone to make payments and purchase items.  This seems to be a hot topic as more retailers gear their services for smart phone users.

A few weeks ago, Starbucks officially announced their mobile application, Starbucks Card Mobile app, available on the iPhone, iPod touch and select Blackberry phones.  Not wanting to wait for Near Field Communication (NFC) to come to full use (NFC requires a lot more than two way communication between the mobile phone and the retailer), Starbucks decided to utilize existing technology, 2D barcodes, for their new app. Continue reading "The Mobile Payments Revolution – An Interim Solution"

As smartphones and open source mobile applications gain popularity and usage, consumers are relying more on their mobile phones to shop.  The market is flooded with applications giving consumers the ability to compare prices and make purchases, either at physical retailers or online, while on the go.  In March, Portio Research estimated that mobile payment transactions will reach over $633 billion by 2014.  According to ScanBuy, barcode scanning was up 200 percent in 2010.  Continue reading "Can You Start Leaving Your Credit Cards At Home?"

As I discussed earlier this year in my book, Beyond Plastic, using your cell phone to make contactless payments may finally become a reality in the U.S.  AT&T and Verizon are indeed encroaching into the electronic payment space, possibly creating a real threat to Visa and MasterCard.   Continue reading "Mobile Contactless Payments May See Light in the U.S."

Recent reports about the security of mobile phone payments has raised red flags on the next hot payment channel.  Encryption on GSM calls has already been hacked and various researchers have released findings and tools that might encourage cyber crime.  Well, maybe not exactly the motive, but a GSM encryption codebook – a “how-to” guide to break GSM encryption – has been released by a team of German researchers.  Their goal was not to assist cyber criminals, but to encourage stronger security protocols for mobile technology.  Continue reading "Can You Trust Mobile Phones With Your Money?"