Few days ago, PCI SSC announced a congressional hearing
titled: “The Future of Money: How Mobile Payments Could Change
Financial Services". This series of 3 meetings will be held in the
coming months, and will focus on the technology by which mobile transaction are
conducted, and the potential security problems and the statutory changes that
are necessary (the
document).
But
the marketplace is not waiting. In the meantime, e-commerce payment giant PayPal
introduced "PayPal Here"- a new mobile payment solution which can
turn any IPhone or Android to a POS, including a dedicated application and a
credit card reader (with the same old 2.7% rate-per-transaction). More
information here.
PCI SSC is clearly trying to follow the hectic pace of the
mobile payment industry with the coming congressional hearing. The council had
also stated earlier this year that mobile payment will be a primary focus for
PCI DSS in 2012 and that official guidance will be released.
We can definitely feel the mobile payment hype here and
everywhere, with many of our customers turning their efforts to mobile
solutions and payment solutions in particular. Well, the marketplace will
always have the upper hand when talking about delivering solutions, but we can
be sure the PCI DSS will make proper adjustments eventually, judging by the
recent updates.
Comsec will continue to be on the lookout for more official
information and more guidance.
