The cell phone industry and especially the one that is responsible for diversifying the services that it can offer, have found in security an important alternative of service and comfort for users.
Dan Cohen, CEO of Movilway, a company that develops services in the Latin American market with a payment tool through mobile telephony, warns that Latin America has become an unprecedented opportunity for the mobile industry. The mobile device is no longer a luxury item but a necessity for the population with fewer resources, who have already incorporated it into their daily lives.
With regard to security, users of this type of technology can be sure that these services are completely safe. Encryption systems establish a set of security measures, practices and tools that guarantee security in the processing of information associated with mobile payments, guaranteeing the existence of timely protection of data and transactions carried out.
On the other hand, this population does not enjoy easy access to traditional financial systems, so 80% of the population does not have a bank account or credit card. "We see great potential here. We are going to promote a business that solves a current need of more than 500 million people in the region who need to be able to make payments and financial operations, but as I have just indicated, they do not have an account in the bank and a cell phone from which they can have the option of making monetary movements safely.
Thanks to this technology, the Movilway electronic wallet will be launched shortly. With this mobile application, users will gain speed, as they will no longer have to waste time traveling to the appropriate places to make bill payments. They will gain security, because by doing it from their cell phone, at any time and anywhere, they will be able to carry the transaction and will not have to carry cash, and always be exposed to theft. And to these advantages they will add that all this can be done at no cost, because the user will not be charged for these procedures.
Safety standards, a great challenge
There are several challenges faced by security companies that want to protect the mobile phones of their users, and one of them is the variety of platforms and terminals that exist in the market.
The problem is the sheer number of different platforms that exist. This forces those companies that develop protection for mobile devices to carry out different developments. In addition, these platforms change their version a lot, which causes updates to be taken out of the protections with an astonishing periodicity.
Another challenge, according to Gerardo Hernández, security advisor in the Latin American market, is that security products are highly optimized and consume few resources. This is a goal that security empresses have pursued for a long time and that becomes more necessary in smaller devices and lower performance. It is necessary to protect without the user knowing, with minimal updates that are not noticed, neither in the performance of the terminal and less in the costs.
Commercial behaviour
Dan Cohen, general director of Movilway, affirms that in the Latin American market mobile payment systems are already being implemented with greater or lesser success, but what distinguishes the Movilway wallet, is that it does not need to have a bank account or credit card associated with this type of operations, contrary to the initiatives that are beginning to be implemented, that do require it.
"The experiences in these countries have been proposed as a complementary service to traditional financial services, while Movilway offers to solve a need in countries that have a high number of unbanked population, introducing this population to mobile financial services, thus becoming an active engine of growth and development in the region. In Latin America, the electronic wallet is of vital importance for the development of society, because it is not a convenience, but a need in comfort and security, "says Cohen.
Hernández, for his part, is more specific with the technological issue and latent insecurity, in this regard he affirms that just as cybercriminals will look for the platforms with the largest number of users, the security companies that will develop security products for mobile phones will do the same to counteract this evil.
"Right now, the developers of this type of crime are putting all their efforts into developing worms, viruses, Trojans or other threats for each type of mobile device," says Hernández.
According to security studies for mobile devices, the iPhone, despite its popularity, is a closed platform so it is not so attractive to criminals, so it is most likely that Android, due to its growth and presence in the market, may be the protagonist, both in attacks and security solutions.
However, our guest recognizes that mobile threats will still take time to take off, because even for electronic criminals fraud by other means and platforms is more representative.
Business and balance sheet
The CEO of Movilway emphasizes that the industry of electronic payments through mobile devices is beginning to take its first steps. "We must now focus on allowing people to use e-money anywhere and based on their lifestyle. Cards will become one more of the vehicles that will be available for digital money and mobile phones will be equipped to make payments more and more frequently," he says.
In the same way, it complements the above by indicating that "electronic money allows consumers to pay wherever and whenever they want in a fast, comfortable and secure way. Cash will always exist in some form but is becoming less and less useful in providing consumers and public administrations with the payment method they need in today's world. The future prospects of mobile payment systems are endless."
Functionality at your fingertips
To pay by mobile phone (almost any model is valid), in addition to other services such as recharging the balance, you must go to any establishment that is attached to the Movilway system. You will need to register in the Movilway system and sign a contract. Registering with Movilway is free. For the peace of mind of the users, the messages sent to the client do not leave a trace of any confidential data and no record of the operation either on the phone or on the SIM card.
Recharging the prepaid telephone account is also very easy: first, the code that identifies the recharge is indicated on the mobile, then the amount and, finally, the amount. To recharge a third-party phone (remotely), enter the reference, the amount, the phone number to be recharged and the amount. In face-to-face purchases, as is the case of a store, the merchant is the one that initiates the transaction by entering the user's phone number (or an equivalent number, in case you prefer not to disclose it). Immediately, the customer receives a message with the amount and the name of the establishment that will make the charge.
To conclude, it should be noted that the possibilities of services and security alternatives in mobile phones is increasing, however, in the good management that the user gives, in adopting habits that provide guarantees of support and using recognized companies, will always be the key to having a positive experience through these devices.
