Security Sessions

NFC Payments, Are We Any Closer?

PayPal, the digital payment company launched a new method to payment technology: person-to-person. This app, utilizes Near Field Communication (NFC) embedded in Android smartphones. To use it, simply write the amount of money you wish to pay, and to hold your phone up to the other recipient’s phone. This is great progress for NFC mobile payment as many banks and companies have created applications already.

Mobile Banking Likely to Increase Mobile Hacking

Mobile Banking is growing fast as many apps appear as consumers’ mobile solutions, but the question of security remains unanswered. Bank’s mobile apps are limited with basic functions (check account, check transaction histories, initiate transfers) but a new wave of apps is arriving to permit to the customer to bring person-to-person payments, remote deposit capture, and bill pay to mobile channel. As apps start to offer more security and advanced functionality in the future, over that same period so too will the threats have increased. The problem according to Jacob Jegher, senior analyst for Boston based Celent’s banking group, is everyone is concerned by mobile security but it is difficult to evaluate the risks.

New report says, Smartphones Risks increasing