The ubiquitous data connection will lead to tremendous growth in mobile commerce as more and more people start shifting their booking, purchasing, payment and banking activities onto mobile platforms, enabled not only by the widespread ownership of smart mobile devices but
also by the various mobile applications that make these transactions super easy to access and to execute. As more goods and services become transacted via these devices, businesses and communications service providers will be seeking out mobile commerce solutions and technologies that can support the expected volume of transactions on mobile connections, while addressing security, privacy and quality concerns that are key in ensuring seamless end-user experience on the services they offer.
Prushothma Rao, Founder and the Head of Consulting Services, PCCMB, discusses these concerns in the Q&A segment of the recent edition of the Mobile Commerce Asia E-Zine Magazine themed ‘Asia: A region of M-Commerce Trailblazers’ highlighting the importance of secure payments on multiple networks, the impact of NFC-based technology and the need for collaboration between various parties including financial institutions, mobile app developers and MNOs in ensuring rapid uptake of the mobile commerce services.
"Secure payment is inevitably one of the most critical issues at the moment especially with a lot of transactions taking place on mobile devices on varied connections, including public WiFis. In this scenario, there will always be security concerns on sensitive information (such as passwords, account numbers and purchase patterns) shared over the network as well as the safety of the device itself. This concern is compounded by the fact that a large chunk of these mobile transactions are carried out by the digital natives, who are reported to be making almost half of their online purchases via mobile phones. The frameworks for secure transaction will therefore continue to be an important driving factor for the growth of mobile commerce and mobile payments in near future" Source - neo-edge (Nov 11, 2013)
