What’s on Your Wallet?

Posted on September 2nd, 2014 by Dan Rampe

iPhone 6

It Could Be an iPhone Logo. Apple, Visa, MasterCard and American Express Partner on New iPhone Mobile Wallet

Apple’s newest iPhone will include a near-field communication chip. If you’re not familiar with it, the chip establishes a radio communication with another device by touching it or being in close proximity, usually no more than a few centimeters away. The chip in conjunction with Touch ID, the fingerprint recognition reader that first became available on the most recent iPhone, will make it possible for consumers to pay for items in a store with literally the touch of a finger.

In his article on bloomberg.com, Matt Townsend quotes unnamed sources saying the agreement between Visa, MasterCard and American Express will be “unveiled on Sept. 9 along with the next iPhone.”

Townsend interviewed analysts in the field to discover what impact Apple’s new iPhone mobile wallet would have on the market when Google and others have found retailers slow to adopt the new technology. The following has been excerpted from Towsend’s piece and edited to fit our format. You may find the complete article by clicking on this link.

Apple drives the industry

[Ben Bajarin, an analyst for Creative Strategies LLC in San Jose, California says]

“Love it or hate [it], Apple drives a lot of standards in the industry. They are the mover in these markets. When they do something, the industry seems to follow.”

For Apple, the push into creating a mobile wallet is to keep users within its ecosystem, thus creating more loyalty to its brand and demand for its products, Bajarin said. “It’s about retention, solving and adding features that keep your base engaged and keeping them loyal.”

Generating revenue from 800 m iTunes users

Apple’s move is also about generating more revenue from the roughly 800 million global iTunes accounts, which include payment information, that have already been created, said Richard Crone, chief executive officer of Crone Consulting LLC, which advises retailers and banks on mobile-payment solutions.

Could generate $300 M per year

Until now, iTunes accounts have been used in Apple’s marketplace, which is tiny compared to the vast retail market, Crone said. If Apple’s mobile wallet takes off, it could open up new possibilities as a marketing platform by generating advertising revenue from consumer brands wanting to reach shoppers while in a store. Crone’s firm estimates that a frequently used mobile wallet application could generate about $300 a year per user from advertising.

Apple’s success will largely depend on the acceptance of the retail industry, which has been wary of handing over the data gained during a transaction to a third party, Crone said. A group of chains, including Wal-Mart Stores, formed a company in 2012 to build a mobile-payment system that has yet to release a product.

Many payment-industry players to contend with

“There’s huge potential with Apple having a market-defining opportunity,” Crone said. However, “there’s lots of moving parts in payment that make the deals they did with artists and Hollywood for iTunes look like child’s play.”

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

 

What Does Mobile Mean for Enterprise Security?

Posted on August 8th, 2014 by Dan Rampe

the-good,-the-bad-and-the-ugly-of-mobile-adoptionThreatMetrix Latest Infographic Reveals Mobiles’ Good, Bad and Ugly Sides

By the end of this year, there’ll be more smartphone subscriptions than there are people on planet earth (approximately 7 billion). And that number is going to go even higher when Apple launches their new iPhone 6 on September 9. That’s an amazing figure – especially when juxtaposed against the fact that only 4.5 billion earthlings have access to working toilets (Time.com March 2013). No wonder why there are so many smartphones. You have to do something while waiting for your turn in the WC.

In ThreatMetrix’s network of more than 160 million active user accounts, one third of the total traffic in 2013 was mobile. And that number is projected to increase to 50 percent by the end of this year. With so many users turning to mobile, ThreatMetrix put together an infographic of mobile’s good, bad and ugly sides so those charged with enterprise cybersecurity will be better equipped to protect staff as well as customers.

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.