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Robust and Secured Mobile Payment Platform |
NEWS |
During the Qualcomm Snapdragon Tech Day held during May 2017 in Singapore, Qualcomm announced Snapdragon 835, Snapdragon 660, and Snapdragon 630. It offers multi-level security solutions comprising of hardware and software-based security architecture, as well as biometric authentication technologies designed to provide a robust and secured mobile payment platform. Additionally, the chipsets are equipped with Near Field Communications (NFC) technology, enabling “Tap and Go cashless payment,” whereby consumers only need to tap their smartphone onto the reader device.
Mobile Payment Will Likely Gain Momentum |
IMPACT |
Mobile payment is gaining traction driven by rising popularity of QR code technology, NFC, and mobile wallet apps, enabling cashless payments on goods and services purchased in retail stores (brick and mortar), online, peer-to-peer (P2P) money transfer, transport fare, utilities, parking fees, etc., using mobile devices. However, consumers, retailers, and financial institutions are concerned about the security risk (e.g., cybersecurity attacks, personal data protection, theft, fraud) associated with mobile payment.
Leveraging on technology, Qualcomm Haven offers solutions that would safeguard mobile devices from security threats and make mobile payments better secured. To illustrate, the Qualcomm Snapdragon 835 utilizes the Qualcomm Haven security platform, including hardware and software-based security solutions, as well as biometric technologies (e.g., fingerprint, voice, and iris and facial recognition)and utilizes a secure camera and a secure token. The iris authentication has 225 points of comparison, suitable for indoor and outdoor environments, and iris liveness detection designed to mitigate spoofing attacks (e.g., photographs, video recordings, printed contact lenses, etc.), and ensures that access is granted only to a live and authorized user at the time of transactions. Biometric technologies offer another layer of security and ensures that only the authorized owner of the smartphone can make mobile payment.
Similarly, the Qualcomm Snapdragon 660 and 630 also utilize hardware and software-based security solutions, as well as biometric technologies. Interestingly, several smartphone devices utilize these chipsets. To illustrate, the Samsung Galaxy S8 and S8+, the Sony Xperia XZ Premium, the Xiaomi Mi 6, and Sharp Aquos R utilizes the Qualcomm Snapdragon 835. Meanwhile, the Samsung Galaxy A9 Pro, Oppo, R9s Plus, Vivo x9 Plus, Lenovo Phab 2 Pro, Asus ZenFone 3 Ultra, Xiaomi Mi Max, Sony Xperia X, Moto Z Play, and the HTC 10 Lifestyle are utilizing Qualcomm Snapdragon 660 and 630. Therefore, these smartphone devices offer a robust and secured mobile payment platform, which in turn would likely boost the usage of mobile payment moving forward.
Digital Payment and Smart Cities |
COMMENTARY |
Payments play a crucial role in the digital transformation shaping smart cities. Mobile payments would enhance the quality of life of people residing in urban areas, improve the efficiency of government services and the business community, and in turn, will boost the economy.