Monthly Archive for April, 2010

Mobile Security Threats Become Aggressive

Since about 2004, when mobile viruses first came onto the scene, the world has become regrettably accustomed to hearing news about threat attacking their mobile phones. The appearance of threats on various mobile telecommunications platforms – Mosquitos on Symbian, RedBrowser on the J2ME, Phage on the Palm OS, and so on – were, rightfully, ‘big news items’ and brought a fair amount of attention to the emergence of malicious programs targeting the mobile phone. Since then, a constant parade of viruses, worms and Trojans has made “mobile malware” a fairly well-known phenomenon to the average mobile phone user.

New trends in mobile security
In recent years however, some interesting shifts in the mobile landscape have occurred. For a start, mobile malware has begun to transition from passively distributed files  to malware that independently and aggressively distributes itself. Such was the case in the transition from user-downloaded games such as Mosquitos or Trojans such as Skulls, to viruses such as CommWarrior, and the infamous ‘Cabir’.

Bookmark and Share

The State of Mobile Banking 2010

2010 will be remembered as the year that implementing mobile banking moved from being a get-on-the-bandwagon trend to table stakes in the American retail financial services market, the year that big banks began to recognize the channel’s own legitimacy, and the year that most mid-tier and community banks put mobile banking on their short list of things to get done.

For banks, the good news is that, relative to other pressing technology investments like enterprise risk management or core replacement, mobile banking is relatively cheap to bring to market. The challenge is that there are many moving parts to consider: basic banking functionality, security, back-end integration, payments integration, NFC, and marketing and loyalty plays. The bigger challenge is that many consumers are already steps ahead when it comes to adopting a mobile lifestyle, so every month that lagging banks spend deliberating on all these options is another month that competitors grab mindshare as the mobility-focused brand.

Bookmark and Share

PayPal’s Open Mobile Payments now available for iPhone developers in beta

After successfully launching its Mobile Payments Library to select developers (private beta) during the Macworld 2010, PayPal is now opening up its mobile payment platform to the wider community. Anyone can download the library from x.com and add checkout functionality for physical goods and services sold through apps on the iPhone, without having to worry about keeping customers’ personal financial information secure.

The whole process is apparently super easy (though I haven’t tried it myself) and PayPal is already showcasing a successful example. The highlighted company is Baublet and they offer custom charms through their iPhone app. Baublet developer Michael Robinson had this to say about the integration: “Being a first time developer, PayPal’s quick and responsive help has been fantastic and made this task pretty darn easy. Our goal was to have the ability to create, purchase and mail a charm within a few minutes on our app. The PayPal’s Mobile Payments was critical to that success.”

Bookmark and Share

RBI agrees to mobile banking services from Nokia

Reserve Bank of India has permitted Yes Bank to partner with Nokia for rendering its mobile banking services. The service would be reaching the customers in the name of Nokia Money.

he company has received an extremelyencouraging response from the pilot study which it had organized in Pune in the month of Februrary. The pilot study would be ending in a few months.

Nokia has described its vision for mobile banking in India as a business having great revenue potential.

The results of the pilot study would act as inpits for RBI to bring about the services in India.

The system would work in such a way that a person goes to a nokia retail outlet anywhere in the country. He fills a form out there which makes him an account holder with Yes Bank. The process would take only 15 minutes.

Bookmark and Share

Veritec, Inc. and The Bolin Group, Inc. ("tBg") Sign Marketing Agreement to Bring Veritec's blinx On-Off(TM) Debit Card Program and PhoneCodes Technology to MarketVeritec, Inc. and The Bolin Group, Inc. ("tBg") Sign Marketing Agreement to Bring Veritec's blinx On-Off(TM) Debit Card Program and PhoneCodes Technology to Market

Van Tran, CEO of Veritec, Inc. (PINKSHEETS: VRTC) today announced the signing of a marketing agreement with The Bolin Group, Inc., a Texas Corporation, to begin marketing its blinx On-Off(TM) card and PhoneCodes(TM) technologies. “The Bolin Group has a wealth of knowledge and experience with debit and e-commerce platforms and is a great partner to bring our product to market,” said Ms. Tran. The Bolin Group President, Bud Bolin, said, “Veritec’s patented and proprietary technologies provide a sophisticated feature-functionality set that puts them at the forefront of prepaid debit card products that are available in the marketplace today. The blinx On-Off(TM) card will provide consumers who do not use traditional banking services with security, control and peace of mind they do not have available to them today. We are excited about the future with Veritec and believe their proprietary technology and security features available with their mobile banking platform will revolutionize the use of prepaid debit card products.”

Veritec’s mobile banking software platform processes debit, pre-paid and gift cards solutions to debit card issuers and sponsoring organizations. Under the blinx On-Off(TM) card program, card issuers and sponsors may provide Veritec’s private branded debit or gift cards to individuals with or without an acceptable credit history. The blinx On-Off(TM) card features the ability to turn card use on and off, make real time money transfers, and to provide notifications of card use. Cardholders have security and convenience while traveling and managing their funds, as well as transferring amounts from card to card or account to account, in real time anywhere in the world. Veritec technology can be deployed as either a closed or open loop processing platform.

Bookmark and Share

TD Bank customers have 'app'-etite for iPhone banking

Mobile banking in Canada recently received a further shot in the arm withToronto Dominion (TD) Bank joining the ranks of other big Canadian banks offering an iPhone app for popular banking transactions.

The TD mobile app for iPhone and iPod touch devices was launched April 14, and since then has been averaging more than 10,000 downloads per day, the bank says.

“Checking account balances, money transfers between accounts, and bill payments are some popular transactions the application enables,” Joan Dal Bianco, vice-president, online channel, TD, told ITBusiness.ca.

She said the app includes a North American branch locator, an ATM locator, and a wealth management locator.

Bookmark and Share

More Tweets »

Industry TweetWatch

Get the TweetWatch Copy widget and many other great free widgets at Widgetbox! Not seeing a widget? (More info)