CorFire Market Watch, 05-29-2012
MasterCard offers guidance on mobile POS
The Payment Card Industry Security Standards Council, the industry watchdog for credit card security, has been struggling for some time to figure out how to deal with payment security on mobile devices. The group released a merchant "fact sheet" last week addressing mobile POS products but stressed that the fact sheet doesn't actually represent any new security standards.
Now MasterCard is stepping into the breach by providing its own set of guidelines for mobile point of sale provider and the merchants who use them. The new global initiative, called the MasterCard Mobile Point-of-Sale (MPOS) Program, is intended to help ensure simple and secure transactions when consumers use their debit, credit and prepaid cards to pay merchants that use these devices, the company said.
Google CEO hints at NFC future for Motorola
Google CEO Larry Page has taken to the search giant's blog to announce the completion of its acquisition of Motorola Mobility — and obliquely mentioned NFC's key role in Google's plans for the future.
At the same time it was announced that Motorola Mobility CEO Sanjay Jha has stepped down and long-time Googler Dennis Woodside has taken over, indicating that the phone maker may find a long term home at Google.
A Model for Banks: Citi's Broad Payments Vision
The New York bank's head of its Global Enterprise Payments group says he believes banks — in particular his own — hold the keys to mobile commerce.
After all, the new digital world is an ecosystem. No one bank or technology company can go it alone.
U.S. Lags in Mobile Payments and Online Banking, Study Says
As the world increasingly shifts more activity to mobile phones, the U.S. is a laggard even among its most avid users of smartphones. Aite surveyed 4,200 consumers in 14 countries during the first quarter of this year.
Less than a third of U.S. consumers have used their phones to make payments, compared to two thirds of consumers in China, according to a report published Monday by Aite Group and ACI Worldwide (ACIW).
Citi exec: Mobile wallet is going to drive adoption
A Citi executive at the International CITI Wireless 2012 conference said that in order for the mobile wallet to succeed, it has to be simple, ubiquitous and compelling.
During the “Mobile Meets Money – Perspectives from the Financial Community” session, panelists discussed the future of mobile money. The panel was moderated by Sylain Maquet, partner at Greenwich Consulting.