Risk
1/4/2011
11:19 AM
50%
50%

Google Prepping Retail Mobile Payment Service

The service, based on near-field communication, would allow consumers to wave smartphones to pay for goods, use discount codes, say reports.

Top 10 Google Stories Of 2010
(click image for larger view)
Slideshow: Top 10 Google Stories Of 2010
Google reportedly this year will debut a payment and advertising service for retail mobile payments.

Based on near-field communication (NFC) technology, the service would let consumers pay for items merely by waving or tapping their smartphones near a register at checkout, according to Bloomberg Businessweek, which cited two people familiar with the plans. Google's plans include a phone chip that would include a shopper's financial information, as well as any coupons or gift and store-loyalty cards, Businessweek said.

NFC wireless transmits and receives data from a distance of 4 inches.

"You'll be able to walk in a store and do commerce. You'd bump for everything and eventually replace credit cards," Eric Schmidt, Google CEO, said of NFC at the Web 2.0 Summit in November.

Google is not alone in targeting mobile payments, a market expected to be worth $1.13 trillion by 2014, according to IE Market Research. Visa, MasterCard, PayPal, Bank of America, AT&T, and Verizon also are vying for dominance in this arena. Online auction site eBay, parent company of PayPal, may launch its own commercial NFC service in the second half of 2011 and is open to partnering with companies like Google, Laura Chambers, senior director of PayPal Mobile, told Businessweek.

On November 16, Verizon Wireless, AT&T, and T-Mobile USA formed Isis, a national mobile commerce network.

"We plan to create a mobile wallet that ultimately eliminates the need for consumers to carry cash, credit and debit cards, reward cards, coupons, tickets, and transit passes," Michael Abbott, Isis CEO, said at the time.

In December, Visa approved DeviceFidelity's In2Pay MicroSD for smartphones such as some BlackBerry models, the iPhone, and the Samsung Vibrant Galaxy S.

"In addition to issuing plastic magnetic stripe or chip-enabled payment cards, financial institutions can now consider offering their account holders a new technology that enables them to transform their existing phones into fully functional mobile payment devices," said Bill Gajda, head of Visa Mobile.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Printers: The Weak Link in Enterprise Security
Kelly Sheridan, Associate Editor, Dark Reading,  10/16/2017
20 Questions to Ask Yourself before Giving a Security Conference Talk
Joshua Goldfarb, Co-founder & Chief Product Officer, IDDRA,  10/16/2017
Why Security Leaders Can't Afford to Be Just 'Left-Brained'
Bill Bradley, SVP, Cyber Engineering and Technical Services, CenturyLink,  10/17/2017
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Security Vulnerabilities: The Next Wave
Just when you thought it was safe, researchers have unveiled a new round of IT security flaws. Is your enterprise ready?
Flash Poll
The State of Ransomware
The State of Ransomware
Ransomware has become one of the most prevalent new cybersecurity threats faced by today's enterprises. This new report from Dark Reading includes feedback from IT and IT security professionals about their organization's ransomware experiences, defense plans, and malware challenges. Find out what they had to say!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2017-0290
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

CVE-2016-10369
Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

CVE-2016-8202
Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

CVE-2016-8209
Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

CVE-2017-0890
Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.