March 3, 2015
The Mobile World Congress has become one of the most popular global events for showcasing new innovatio, not only in mobile but in adjacent industries such as well. Here are some notable highlights in payments and commerce from MWC 2015 in Barcelona:
Samsung Electronics Co. Ltd. announced the latest in mobile payment services, Samsung Pay, ushering in a new era of mobile payments and e-commerce. Samsung Pay allows consumers to transition to secure mobile payments at nearly all merchant locations. To achieve this, Samsung leverages both Near Field Communication (NFC) and a new proprietary technology called Magnetic Secure Transmission (MST) to make mobile payments more accessible to merchants and consumers than ever before. To deliver a best-in-class mobile payment solution, Samsung has partnered with major payment networks such as MasterCard and Visa. Additionally, Samsung is working hard to expand the partnership ecosystem for Samsung Pay with key financial partners globally, including American Express, Bank of America, Citi, JPMorgan Chase, and U.S. Bank, to provide greater flexibility, access, and choice for customers while enabling a simple and secure payment experience.
Visa’s New Offerings
Visa is showing off a number of new products and services, including peer-to-peer payment capabilities and a secure payment tokenization system. Visa Direct, formerly called Visa Personal Payments, will soon extend its offering beyond Europe to create a global peer-to-peer payment service for customers along with its member banks. It will be available in 20 languages and will support multiple currencies to enable users to send money to friends and family by simply using their mobile phone number. Moreover, a partnership with Fastacash will enable member banks to extend social payment features, letting customers send peer-to-peer payments across the Visa network using Facebook, LinkedIn, Twitter and WhatsApp. Visa’s tokenization technology will roll out to financial institutions in April 2015.
Ingenico’s NFC based mPOS Solution
Ingenico Mobile Solutions has developed the RP170c that gives small merchants a future-proof solution for contactless payment acceptance by providing support for both magstripe contactless and EMV contactless cards. The RP170c is fully compatible with the Ingenico Mobile Solutions mCommerce platform including their mPOS application, management portals and gateway to instantly accept all of the latest NFC payment methods – including Apple Pay – as well as all Visa and MasterCard contactless cards, whether they are EMV or magstripe. he RP170c based solution can also be white labeled for merchants or channel partners, who can resell the solution under their own brands.
Proxama to Leverage INSIDE Secure’s HCE Payment Technology
Proxama will leverage INSIDE’s technology to release a new product for banks that are looking for off the shelf solutions to offer HCE cloud-based payments for leading payment schemes. In addition, INSIDE is presenting some key updates to its robust HCE payment solution to help solve the problem of integrating multiple technologies, including cloud systems, mobile applications, mobile application security, credential management and certification. When licensed by companies like Proxama, INSIDE’s solution gives issuers and banks greater flexibility in deployment by leveraging cloud and software technology that works with all potential players for secure mobile payments using Near Field Communication (NFC), QR code and other technologies.
SuperCom showcased its SuperPay suite of secure mobile payments solutions, including biometrics authentication. SuperCom’s SuperPay is a full suite of solutions ranging from mobile wallet to mobile POS which uses a set of components and platforms to enable secure mobile payments and financial services. The suite allows customers to securely make payments using any mobile device – including smartphones, tablets or traditional 2G/3G handsets — while allowing merchants to use any smartphone, tablet or existing POS to receive secure mobile payments. SuperPay offers numerous payment technologies including NFC using HCE, BLE and Audio, and secures the payment by using a one-time password, biometric authentication and SuperCom’ proprietary SafeMoney platform. The SuperPay suite includes four mobile solutions, starting with SuperWallet, a mobile application that offers various secure mobile financial services for any mobile device.