The market for mobile payments is developing very actively, and the Banking Sector is quite difficult to keep up with rapidly changing trends. The dependence on regulators and many other constraints do not allow financial institutions to occupy the niche which is now occupied by the mobile operators.
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Today there are a large number of mobile wallets conductors payments remain mobile operators. But now it will not be easy – they have to compete with the major vendors of mobile phones and software developer companies – iOS, Android and Windows Phone, are already talking about creating your own payment systems.
If we talk about global trends, the overseas market of mobile payments is moving towards a more open system. Foreign banks are considering open payment platform and solutions as a promising tool for integrating third-party services into their enterprise systems.
Mobile Phone Is Replacing Magnetic Cards.
Magnetic Cards soon may not be needed, predict experts: the usual source of payment will be a bank account, not a credit card. This is due to outdated notions of security charges. That magnetic card is more secure from the standpoint of human identification, far from it.
In terms of the use of a magnetic card has a lot of controversial technical issues. For example, everyone knows that the CVV-code Set directly on the card. Thus, access to all on-line using this card gets a man with a card in hand, and this is not necessarily the owner.
Displays CVV-Code on the card along with the name and surname of man – also a very controversial issue, which allows to misuse the personal data of the owner.
Mobile Phone is Replacing Passport.
Today, to get full identification; one must come to the office and the bank to show a passport. However, the relationship between the use of the reliability of the passport and mobile phone is very ambiguous.
We are now going about the following: a person comes to the bank, showing a passport, receives the keys. But what next? “And then he went to rest somewhere in the city, hands over the keys to someone else, and the bank has no information on who uses the keys and where it is,” The bank can only identify the owner at the time the keys, but the operation on the map, he does not control, and output them may exercise any other person.
If you identify a person on a cell phone, you can, at least, understand where the person is at the time of the transaction.
“We have mobile phones, which are becoming smarter and safer, and we think that the generation of passwords and everything related to the identification now moves into mobile phones”.
Mobile phones are becoming smarter and more secure, and all that is associated with the identification, eventually move them
One example of a new approach when the person is identified, instead of a set of documents – face. The man at the first shopping binds his bank card to her face, and then, when he comes back to the store, the camera identifies it and recognized his bank card. When a person comes to the checkout, the cashier scans of photos on the terminal, whether it is the owner of the card, and all that remains to be done – press the button to pay.
In the implementation of this technology have a lot of controversial moments, as biometrics is itself a very complex thing. However, in India, for example, have 600 million people have passed such identification and no problems. In order to make payments more secure, you need to change the very model of “identification of the document, not the person.” In this regard, most likely will focus on authentication.
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