Qualcomm’s Mobile Payment Security Solutions and Smart Cities

Subscribe To Download This Insight

3Q 2017 | IN-4647

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.

Registered users can unlock up to five pieces of premium content each month.

Log in or register to unlock this Insight.

 

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.

  • Boost Government Revenues and Services: Mobile payment would help reduce the administrative costs associated with tax collection, boost transparency, and mitigate tax evasion, which will ultimately boost government tax revenues.
  • Enhance the Quality of Life: It offers convenience and safety, enabling citizens to pay for goods and services faster and with ease compared to the traditional way of queuing at the cashier counter, which is time-consuming. Additionally, it offers protection against theft since consumers no longer need to carry a large amount of money when they travel. Moreover, it offers protection against lost or stolen smartphones since only authorized user via biometric authentication can access themobile payment.
  • Seamless Travel Experience: Mobile payment offers convenience when travelling via public transit since commuters no longer need to queue to buy tickets or pay in cash, which in turn encourages ridership and reduces administrative cost on transport operators. To illustrate, commuters of public transportation (bus and train) in London have the option to pay their transport fare using their mobile phones with a tap-and-go function. Similarly, mobile payment is gaining traction in mobility as a service. Grab, a ride hailing operator in Singapore and Indonesia, allows payment of transport fare via mobile phone as well.
  • Parking Fees: Cashless payment of parking fees is gaining traction in Asia, offering convenience across motorist and parking operators, reduces labor requirements, and minimizes human error in handling payments. Singapore has trial-launched a smart parking app from May to June 2017, enabling digital payment of parking fees using mobile phones. Similarly, WeChat Pay and AliPay are used to make cashless payments of parking fees in China.
  • Data: Data collected from mobile payment provide valuable information to the government, enabling government to design data driven policies where service improvements are needed. 

Services

Companies Mentioned