Mobile payments ecosystem comes of age in India

Although being young with only a dozen mobile wallet players in the field, India's mobile payment ecosystem has witnessed steady growth and a rapid adoption of path-breaking innovations as people started realising the benefits of technology in online payments space in 2015 -- the most popular being the "mobile wallet".

Major economies across the world have been witnessing "cashless" transactions, with the industry, estimated to be around $300 billion in 2013, making inroads in many countries in the last five years. Companies such as Apple, Alipay, Google's Android Pay and Samsung Pay have already put their own solutions in place.

In India, there are around 12 mobile wallet players that include Paytm, MobiKwik, Oxigen, Citrus Pay, Freecharge, Zaakpay, ItzCash, Airtel Money, M-Pesa, and mRupee, and their combined customer base is said to be more than 125 million. Of this, Paytm alone has a lion's share of over 50 million.

According to a study by research and consultancy firm RNCOS, the current size of the mobile wallet market in India stands at about $53 million (350 crore Indian rupees) and is estimated to touch around $183 million (1,210 crore Indian rupees) by 2019. Cash transactions account for 38 percent, while recharge and bill payments account for 30 percent of the total market.

However, there are minor irritants such as failed transactions forcing the online shoppers to go through the tedious process of filling in details, and the lack of awareness among people. But leading payment gateway company PayUbiz has launched a new feature called Magic Retry, which enables the consumers to retry a failed transaction by simply picking up from the point where the last error message appeared.

Magic Retry is specifically designed for mobile online payment and is said to be first of its kind in the digital and electronic payments ecosystem in the country.

Head of Business at PayUbiz Rahul Kothari said that though most of the online shopping was taking place over mobile devices, online transactions through mobile phones were still susceptible to payment failure due to network signal loss or a random error. "With the launch of our new feature, the usual hassles which have been traditionally associated with mobile payments are things of past," he added.

Read More: http://www.zdnet.com/article/mobile-payments-ecosystem-comes-of-age-in-india/

The rise of robots, virtual reality coming soon

Virtual reality and robots could soon become more commonplace in U.S. homes if recent predictions for 2016 play out.

Technology improvements, new gear rollouts and lower costs are expected to spark greater interest in virtual reality technology from Facebook's Oculus, Google as well as Sony, HTC and others, according to Juniper Research.

Two consumer devices are already available: A VR headset made by Oculus for Samsung Galaxy smartphones, and Google Cardboard, which works with any smartphone. Juniper expects those devices and competing gear to get even more popular over the next five years.
"The technology is now poised to transform the entertainment industry, including games and video, in the next few years, whilst offering the potential to quickly expand into other markets such as industrial and healthcare," according to a recent Juniper report.

"We might get to a point where there's enough ubiquity of virtual reality where you can really build a company in this market today," Box CEO Aaron Levie said in an interview with CNBC. Levie's firm sells enterprise software for content management and file sharing.

There are already more than 200 companies developing virtual reality technology including hardware and software, and they're worth a combined $13 billion, according to research from VB Profiles.

Read More: http://www.cnbc.com/2015/12/11/the-rise-of-robots-virtual-reality-coming-soon.html

5 mobile security flaws you should know

Windows Phone, Android, iOS — no operating system is completely bulletproof from security problems.

Mobile devices can be a scary thing to think about after major security vulnerability emerged in July in Android, called the Stagefright bug — which lets cyber criminals hack a smartphone simply by sending a text message.

A Stagefright 2.0, which allowed a hacker to gain control of a smartphone via an MP3 or MP4 video, sprang up in October before Samsung, Google, LG and other tech giants enforced monthly security smartphone security updates following the original bug, according to the Guardian.

Apple devices can also be susceptible to security problems.

A hacking team received $1 million from startup company Zerodium after the group discovered an unknown, or zero-day, vulnerability in iOS.

But such risks are not limited to just smartphones.

"I think they're in the spotlight right now because they can do so many things, and carry so much information and interfaces," said Jan Volzke, Vice President of Reputation Services at Whitepages, a contact information and identity verification company.

Here's a quick list of top mobile security flaws you should know:

Clicking on links or opening a suspicious email enables hackers to collect and access sensitive information, such as Social Security numbers and SMS messages.

They can even steal credit card numbers and online banking transactions directly and install spyware on a device to access personal data.

Experts at the Alcatel-Lucent's Motive Security Labs confirmed a rapid increase of mobile device infections, with a 25% spike in 2014, compared with 20% in 2013, according to the Motive Security Labs H2 2014 Malware Report.

Read More: http://www.nydailynews.com/news/national/5-mobile-security-flaws-article-1.2451562

Apple, Google and Microsoft: weakening encryption lets the bad guys in

Apple, Microsoft, Google, Samsung, Twitter, Facebook and 56 other technology companies have joined together to reject calls for weakening encryption saying it would be “exploited by the bad guys”.

After Apple’s chief executive Tim Cook’s claims that “any backdoor is a backdoor for everyone”, the Information Technology Industry Council, which represents 62 of the largest technology companies worldwide, said: “Encryption is a security tool we rely on everyday to stop criminals from draining our bank accounts, to shield our cars and airplanes from being taken over by malicious hacks, and to otherwise preserve our security and safety.”

The debate over encryption, which has become the bedrock of the internet used by almost every transmission that needs to be secure and increasingly those that don’t, has erupted after the terrorist attacks on Paris.

The Information Technology Industry Council’s chief executive, Dean Garfield, said: “Weakening security with the aim of advancing security simply does not make sense.”


Tech industry groups urge US to avoid policies that would weaken encryption
 Read more
End-to-end encrypted communications mean that only the sender and receiver can view the contents of the message, which governments say has put intelligence services at a disadvantage.

Read More : http://www.theguardian.com/technology/2015/nov/23/apple-google-microsoft-weakening-encryption-back-doors