Mobile payments
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Mobile Payments. Commerce Without Cash or Credit Cards. Traditional Methods of Payment. Cash Check or Money Order Traveler’s Checks Credit Cards and Debit Cards Pre-paid Cards (e.g., Gift Cards, MetroCard ) Combination Cards (Loyalty Plus Payment) e. g., Starbucks Card

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Mobile Payments

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Mobile payments

Mobile Payments

Commerce Without Cash or Credit Cards

Traditional methods of payment

Traditional Methods of Payment

  • Cash

  • Check or Money Order

  • Traveler’s Checks

  • Credit Cards and Debit Cards

  • Pre-paid Cards (e.g., Gift Cards, MetroCard)

  • Combination Cards (Loyalty Plus Payment)

    • e. g., Starbucks Card

  • NFC or RFID Tokens (“tap to pay”)

Cyber payments

Cyber Payments

  • Secure Web site

    • Uses credit card numbers, often with CVV

  • Cyber Wallets

    • PayPal,, iTunes, Google Wallet

  • Cryptocurrency

    • Bitcoin, eGold, etc.

Mobile payment processing

Mobile Payment Processing

  • Moves credit/debit card processing to the mobile device

    • Square

    • Pay Anywhere

    • PayPal Mobile

    • Intuit

Hybrid payment systems

Hybrid Payment Systems

  • Moving Cards and Cyber Wallets to mobile devices

    • PayPal app – access your PayPal account

    • Amazon apps – purchase merchandise, MP3s

    • Google Wallet – for Google Play & apps that accept the wallet

    • iTunes and the App Store

    • Combination card apps

      • Starbucks, Dunkin Donuts, etc. (scan to pay)

Nfc payment s next iteration

NFC: Payment’s Next Iteration?

  • NFC: Near Field Communication

    • Devices must be in close proximity (??)

    • Login plus secure PIN to access payment method

    • Secure settings within the NFC chip (specific to the device)

    • Accounts must be manually migrated to upgraded devices

Nfc and mobile payments

NFC and Mobile Payments

  • Isis Wallet

    • Hover/tap to pay

    • Available for Android and iOS

    • Based on NFC (built into newer, high-end Android phones, newer iOS systems can access with special cases)

    • Copies credit/debit card information to your phone (limited number of banks and services)

    • Limited (but growing) number of loyalty programs

Isis incentives

Isis Incentives

  • Isis and American Express Serve (a prepaid card) have been offering $25 to join the program (available through certain wireless carriers)

  • Verizon Wireless has been offering $1 credit per wireless purchase with AmEx Serve

  • My Coke Rewards incentives to join through, or to attach existing accounts to, Isis

  • Other credit incentives have been offered to “seed the market”

Other incentives

Other Incentives

  • Dunkin Donuts and Isis are both offering referral incentives

  • Loyalty programs usually reward in merchandise or in “points” to be redeemed for merchandise

Is mobile more secure than credit cards

Is Mobile More Secure than Credit Cards?

  • Pros:

    • NFC: Secure chip, dual identification

    • Magnetic stripes cannot be force-read (street device) if cards are not present

  • Cons:

    • NFC: Can the radio and/or the app(s) be hacked?

    • NFC: Despite the availability map, many locations have “contactless payment” disabled

    • What if you lose or break your device (or it is stolen)?

      • Security apps, remote wipe of device

      • Card management through computers/Web

Other considerations

Other Considerations

  • Resource Management

    • How many different places do you want to store money? (What if you suddenly need it all in one place?)

    • How much room on your device do you want to allocate to wallet apps and loyalty apps?

      • How many of these apps come pre-loaded as “carrier bloatware”?

    • What if you don’t have a data plan (or a 3G/4G chip)?

  • Back End Security

    • Your financial information is only as secure as the systems through which it is sent

Nfc security resources

NFC Security: Resources

  • 8 Myths About Mobile NFC (Gemalto Security)

  • How Secure is NFC Tech? (How Stuff Works)

  • Security Concerns with NFC Technology (

  • Nearfield Communication (Wikipedia)

  • NFC FAQ (Smartcard Alliance)

  • Login