You may have heard the news that Google has announced a new payments system at I/O, Android Pay. Android Pay will work exactly like Google Wallet, where you simply tap your smartphone to any NFC terminal in order to pay your bill.
Below is a comment from Cindy Provin, VP Global Strategy at Thales e-Security who says that if this new payments systems is to make an impact, securing data needs to be a number one priority.
“This announcement of Android Pay by Google highlights the intensifying competition for mobile payments. The company has reinvented its mobile payments solutions and is positioning itself to gain market share for its services.
With more consumers willing to give up physical payment methods for a digital alternative, the industry needs to ensure that security of the data is maintained.Vulnerabilities or a break down in payment services around mobile payment alternatives would limit the uptake mobile payments. As the mobile payments market continues to grow, and more and more options become available, providers such as Google and Apple will find themselves in an constant challenge to balance the convenience for consumers with ensuring the data and the services are secure.”
By Cindy Provin, VP Global Strategy at Thales e-Security
About Thales e-Security
Thales e-Security is a leading global provider of data protection solutions with more than 40 years experience securing the world’s most sensitive information. Our customers—businesses, governments, and technology vendors with a broad range of challenges—use Thales products and services to improve the security of applications that rely on encryption and digital signatures. By protecting the confidentiality, integrity, and availability of sensitive information that flows through today’s traditional, virtualized, and cloud-based infrastructures, Thales is helping organizations reduce risk, demonstrate compliance, enhance agility, and pursue strategic goals with greater confidence.