SXSW Interactive 2014
The Rise of Mobile Payment – Enabling Technologies
There is no question consumer’s dream of a world with mobile payments, driven by the convenience of transactions, dematerialization of the physical wallet, personalized offers and loyalty awards through the simple interface of the mobile phone. While mobile payments are gaining traction daily through the appeal of a more convenient way to pay, trust in mobile payment comes easier if you understand the technology and the security measures in place which enable it. In this session, the technologies that work to enable the world of mobile payments will be discussed, sharing insight on the mechanisms for payment including Near Field Communication (NFC) and barcode that are the future of m-payments. The session will also delve into understanding the systems that work on the back end to process the transaction with your bank such as the Trusted Service Manager (TSM). All questions you thought of and even those you haven’t will be discussed in this crash course on mobile payment technology.
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- What technologies are used in a mobile payment?
- How is my information transmitted in mobile payments?
- What security mechanisms are in place to keep my personal information safe on my phone?
- What is NFC and barcode technology?
- How is a mobile payment transaction processed?
- Amol Deshmukh, Director of Solutions, Mobile Financial Services, Gemalto
Shannon Taylor, SR MARCOM, Gemalto