Mandate Mobile Payment Protections

Regarding the latest news which have highlighted on how consumers in the U.S. are soon able to pay for products and services with a wave of their smart phones. However with this convinience, certain risks pose a threat as with the threat of losing money when mistakes are made by the dealers and also there may be con men that would convince a consumer to fall for their phishing site and cheat them of their money. Although the federal law protects the consumers if there is a los of credit card or debit card, but there is a lacking in the current protection to all new types of payments. Credit cards provide protections in case of bank errors, unauthorized use, and disputes with the dealers, but debit cards provide only protections for bank errors and unauthorized use, not for disputes with the dealers. If the Federal Reserve Board fails to act, Consumers Union noted that the new Consumer Financial Protection Bureau created under the recently passed financial reform legislation has the authority to address unfair payment practices.

Reference: http://www.cellular-news.com/story/45012.php

Cimbal Launches Mobile Payment Services

Cimbal, is the software-based payment service developers for mobile phones announced that they commercially launched their service in the USA following a four month test phase.Cimbal user creates a payment request on his phone or the Web. Cimbal's system produces a single use 2-D barcode token that does not include the transaction details or other sensitive data. The payer launches Cimbal on his mobile phone, enters a PIN, and scans the 2-D barcode. Cimbal authenticates both parties and prompts them to confirm each other's identity. The system authorizes available funds and clears the transaction in seconds. This means both will receive a confirmation receipts on the devices in account history.


Reference: http://www.cellular-news.com/story/45112.php

Do You Know What Is The Different Between E-Commerce and M-Commerce?

60% of the voters have voted Yes, which means these voters knows the difference between E-Commerce and M-Commerce. This voters might have experience on applying M-Commerce and E-Commerce in their daily life or they might have read or studied in some blogs, magazine or websites, like an example I.T students or Entrepreuner's sure knows the differences between the E-Commerce and M-Commerce. 20% of the voters voted they do not know the differences. These voters might be new to the Internet world therefore they might lack of knowledge on the new technologies. these are the people are not so involved or interested with the latest technolgy and creation or even Internet phobic. The other 20% of vote comes from voters who claim that they MAYBE know the difference between E-Commerce and M-commerce. These are the people who partially know what is the technology about but not so sure how does it work in the real world, therefore i have provided a brief explanation on the differences between E-Commerce and M-Commerce which would help the voters to understand more
precisely.

E-Commerce is short for electronic commerce and refers to the field of marketing, buying, selling, distributing and servicing different products and/or services over the internet. It aims at using electronic business applications for the purpose of commercial transactions. E-Commerce is believed to have started off in 1994.
M-Commerce on the other hand stands for Mobile Commerce and refers to commercial transactions being conducted over cellular and mobile devices. M-Commerce originated sometime during the 1990s. The methods of payment used are normally calling numbers with premium rates, reduction of the caller's credit and charging the user's bill.




Reference- http://www.blurtit.com/q411120.html

Mobile commerce used by one in five adult consumers in the U.S.

Based upon a survey which was carried out by the Mobile Marketing Association, an average of one in five adults mobile phone users in U.S. have used their mobile phone for mobile commerce purposes. These includes consumers using their mobile phone to purchase ringtones, applications as well as other contents. This only make up of 17% of the respondents. There is however, 6% that uses their mobile phone to receive discounts and coupons alike. Also, the survey has shown that another 6% of the respondents use their mobile phone to purchase non-mobile content and physical goods. This confirms that mobile commerce has graduated to include more than jus the purchase of digital content for the mobile phone itself. The most common users of mobile commerce has got to be the iPhone and BlackBerry owner. This is because approximately more than half of the iPhone owners and 34% of BlackBerry owners have purcased contents for their smartphone. Mobile content purchases were made mostly through a carrier and 43% used a bank or a credit card for the payment. Multiple types of transaction are also being conducted by mobile phone users between the ages of 25-34, compared to the other age groups.

Reference: http://www.cellular-news.com/story/43389.php