Visa and MasterCard are backing host card emulation technology that will enable the credit card companies to offer cloud-based mobile payments, in effect bypassing hardware-based mobile payment initiative backed by mobile operators.
Check out the hottest mobile IT stories for Feb. 18, including the ongoing dominance of QR codes in mobile ticketing, the inclusion of a scheduler app in eHarmony's repertoire, Ericsson and Kodiak Networks' expansion to Europe, the rise of machine-to-machine connections and Android's lockdown on the smartwatch market.
Apple last year launched iBeacon, an indoor position system that provides the location of iOS device users and enables push notifications to be sent to the device. iBeacon, which employs Bluetooth low energy wireless technology, could also enable mobile payments at the point of sale, making it a competitor to near field communications technology.
If it lives up to the hype, near-field communication could be a boon to the financial services industry, which could benefit immensely from mobile payments adoption. Richard Char, the global head of digital networks and merchant services at Citi, told attendees at a recent conference that a coming shift in card technology will pave the way for NFC adoption.
Near-field communication aims to revolutionize mobile commerce, but just how close the technology is to becoming a widely-adopted reality is unclear. A new paper confirms some of the fears that have many businesses shying away from the technology.
HP will offer $300,000 in prize money to hackers who can uncover previously unknown mobile vulnerabilities, according to a report by eWeek.
Microsoft is touting the BYOD enhancements that Windows 8.1 will bring to the enterprise. A preview version of Windows 8.1 was released last week at Microsoft's Build developers' conference in San Francisco.
The number of smartphone users who use their devices for mobile ticketing is forecast by Juniper Research to double by 2018, reaching close to 1 billion users by then.
Near-field communications technology has failed to gain traction for mobile payments, Gartner noted, forecasting that NFC will account for only 5 percent of the mobile payment transaction value in 2017.
The global volume of smartphones enabled with near field communications is forecasted to more than double this year, according to Strategy Analytics.