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
Register for Dark Reading Newsletters
White Papers
Cartoon
Current Issue
Dark Reading Tech Digest, Dec. 19, 2014
Software-defined networking can be a net plus for security. The key: Work with the network team to implement gradually, test as you go, and take the opportunity to overhaul your security strategy.
Flash Poll
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2013-4793
Published: 2014-12-27
The update function in umbraco.webservices/templates/templateService.cs in the TemplateService component in Umbraco CMS before 6.0.4 does not require authentication, which allows remote attackers to execute arbitrary ASP.NET code via a crafted SOAP request.

CVE-2013-5958
Published: 2014-12-27
The Security component in Symfony 2.0.x before 2.0.25, 2.1.x before 2.1.13, 2.2.x before 2.2.9, and 2.3.x before 2.3.6 allows remote attackers to cause a denial of service (CPU consumption) via a long password that triggers an expensive hash computation, as demonstrated by a PBKDF2 computation, a si...

CVE-2013-6041
Published: 2014-12-27
index.php in Softaculous Webuzo before 2.1.4 allows remote attackers to execute arbitrary commands via shell metacharacters in a SOFTCookies sid cookie within a login action.

CVE-2013-6043
Published: 2014-12-27
The login function in Softaculous Webuzo before 2.1.4 provides different error messages for invalid authentication attempts depending on whether the user account exists, which allows remote attackers to enumerate usernames via a series of requests.

CVE-2013-6227
Published: 2014-12-27
Unrestricted file upload vulnerability in plugins/editor.zoho/agent/save_zoho.php in the Zoho plugin in Pydio (formerly AjaXplorer) before 5.0.4 allows remote attackers to execute arbitrary code by uploading an executable file, and then accessing this file at a location specified by the format param...

Best of the Web
Dark Reading Radio
Archived Dark Reading Radio
Join us Wednesday, Dec. 17 at 1 p.m. Eastern Time to hear what employers are really looking for in a chief information security officer -- it may not be what you think.