Mobile payment security constraints: Cloud computing or to win the magic weapon

Google recently announced that wallet is starting to support cloud services and can use almost all credit and debit cards. In the original version, Googlewallet used the device to store the encryption locally, and now almost all of the information is on the cloud.

The mobile payment market has a broad prospect and vendors are competing for the market. But at the same time, security issues have become a major constraint on their popularity. and the payment system based on cloud computing and cloud service can guarantee the necessary security, and have the flexibility to make the user's mobile payment life more safe and convenient.

To seize the opportunity, Google Wallet began to support cloud services

Google has released its latest updated version of its wallet, according to media reports. After the upgrade, users only need to load the bank card information on Google's cloud computing platform, you can get a related to their bank account number of MasterCard virtual accounts-the intermediary of the transaction, the user through the NFC chip smart phone can be completed payment.

It is understood that this version of the breakthrough is Google Wallet can be associated with any credit card and debit card, significantly reduce the use of barriers to reduce user access threshold, or will improve the penetration of Google purse. In the past, users either paid with Google's prepaid account or loaded Citibank's MasterCard card with many inconveniences. After the revision, Google Wallet jumped out of the bank's "encirclement", convenient for users, but also make card issuing banks to save a lot of complex integration work.

At the same time, in security, Google has been further strengthened. The use of cloud storage, the user's account will be real-time monitoring, once found abnormal phenomenon, can be the first time to put forward effective preventive measures, so as to maximize the protection of information security.

For Google itself, this move will undoubtedly make Google Wallet more users of the favor, so as to win a bigger market. As Richard Clorne, CEO of Crone Consulting LLC, a payment consultancy, said, "Google's revamped strategy will help it gain competitiveness by gaining a dominant position in the confrontation with rival PayPal and ISIS and stabilising the market for mobile payments." ”

Multifaceted, the prospect of mobile payment market is attractive

Mobile payment is rapidly developing with unimaginable speed, and the market contains unlimited business opportunities. According to the "China third party payment Market Trend forecast" published by Analysys International, the 2011 China Mobile payment annual turnover volume reached 74.2 billion yuan, the number of users reached 187 million. And, the report predicts that the next 3 years mobile payment market will continue to develop rapidly, by 2014, mobile payment market transactions will reach 385 billion yuan, users will reach 387 million.

The market has a keen sense of smell of mobile operators, banking institutions and third-party payment companies and other manufacturers have "stepped in" the market, to rob the mobile payment industry this tempting "big cake."

At present, the three major operators have set up independent payment companies, including China Telecom's "Tianyi E-Commerce Co., Ltd.", China Unicom's "Unicom payment Limited" and Mobile E-commerce Co., Ltd. With the development of mobile Internet and the proliferation of mobile phone users, mobile phone has become one of the main means of electronic payment, which provides an objective favorable condition for operators to intervene in payment market. In the business, mobile and Pudong Hair Bank jointly issued a near-field payment joint cards, such as 4 of products; China Unicom obtained the central bank's payment licence, and realized the change from "Unicom-Net Technology Co., Ltd." to "Unicom payment Limited", while the Chinese telecom was holding hand "wing payment".

At the end of June, the central bank issued 95 licensing licences, the third party to pay the corporate team growing up, in addition to the release of nearly 200 licences, according to the relevant agencies monitoring, there are still a large number of enterprises to submit applications for licences. Third party payment has infiltrated into all aspects of our lives, not only in shopping, tourism, games can not be separated from it, in various fees, insurance, logistics and other areas of third-party payments also do a good job. The size of the growing scale, but also led to more intense market competition, third-party payment market undercurrent. PayPal launched a new technology to support users in the physical store to complete the payment, radio and television also sent in the hope of paying for a place to pay, Ali's Alipay, Tencent's Tenpay, Grand Sheng and so on each occupy the side of the world.

The banking sector, which is closely related to third-party payments, is lagging behind in mobile payments. Although rich in resource advantages, but the use of net silver users is not high, banks have to be with third-party payment companies to maintain a close relationship.

Although the mobile payment market smoke, but its future broad development space also requires operators, banks, third-party payments and other related enterprises to carry out diversified cooperation and communication, mutual learning, mutual promotion in an orderly, coordinated payment market order.

Security into the constraints, cloud computing or the magic weapon to win

The development of mobile e-commerce has led to the rapid growth of mobile payment, but at the same time, the security issue is becoming more and more obvious. Mobile phone virus, privacy theft, domain name is black and other hidden dangers to a large extent become the mobile payment industry development barriers, how to protect the user's information security has become a mobile payment of the most important.

In the crack of the law, all parties actively explore, and cloud computing has become a good choice for security, there are many manufacturers have seen this business opportunity, have begun to seize the opportunity to layout the market. Isian proposed cloud payment architecture, in the computer, smart phones and other terminals can be realized payment, and support all debit cards and credit card, as long as the adoption of the cloud Platform certification to complete the transaction payment; Cnnic launched the National Domain name Cloud Analysis Services to provide efficient, standardized security protection; Alibaba revealed that The future will vigorously promote payment solutions, using cloud computing services to provide mobile cloud storage, industrial and commercial banking to build a financial cloud platform, and vigorously develop online business, the Network Qin launched a "cloud security" testing platform ...

The blowout development of mobile payment also makes the safety protection urgent. Cloud computing with its convenience, reliability, security, sharing and other powerful advantages more and more favored. Through cloud computing to pay security, you can let consumers experience Internet services at the same time, have a more comfortable, assured payment environment.

(Responsible editor: The good of the Legacy)