Write The Smartphone Champ 5-27-12

May 27, 2012 in Write The Smartphone Champ by Hashim Fannin

TSC Questions Resized

What do you think of the O2 mobile wallet app? Do you think that it’s secure enough?


Ibro, overall I do think the O2 mobile wallet app is fairly secure.  However, I do see some opportunity for security issues to arise.  O2 has stated personal details, pin codes, passwords, and other financial data is stored remotely on their servers as opposed to being stored on the phone.  While at first glance this sounds great, since a person wouldn’t have access to this information simply by hacking your phone.  At second glance it does sound like it has the potential for a problem to occur, since each time you use the app, you’ll have to communicate with their servers to verify pins and other information.  That means that a person who is connected via wifi (especially public wifi) could potentially be at risk of someone intercepting that data.


Who do you think will dominate the mobile payments market, Paypal, Google Wallet, or Isis?


Ricardo, I’ll start off by saying, it most certainly will not be Google Wallet.  Google has missed their opportunity to put the mobile payments market in a choke hold.  The two main players are going to be Paypal and Isis.  Though Paypal has partnered up with Verifone, and will have access to a large number of retailers because of the partnership, I still don’t think it will be enough to keep Isis from dominating.  Isis too has been making strategic partnerships, and has some very important names in bed with them, such as Mastercard, American Express, and more.  Also, don’t forget Isis has the benefit of being backed by 3 of the 4 major US cell phone carriers (Verizon, AT&T, and T-Mobile).  This puts them in prime position to push their mobile payments solution on consumers directly through their smartphones.  That is the biggest reason I think Isis will be the dominant force in mobile payments.


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