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November 16, 2018

Security in the mobile industry has always been a primary issue ever since smartphones and other mobile gadgets became the most preferred medium to conduct personal and work-related activities. Plenty of our sensitive information is stored on our smartphones alone. Who among us doesn’t use an app to access our bank accounts, for instance? How many passwords and e-mails do your browser’s cache, store or remember?

Without a doubt, these facts assert the need for better security in order to lessen instances of privacy invasion, hacking and identity theft, to cite but some of the crimes that are becoming prevalent nowadays. That being said, experts are suggesting that the use of biometric technology could very well be the best solution to address these issues.

What are Biometrics and Authentication?

When people encounter the word biometric authentication, the most common mental images they conjure are probably ones that involve a machine scanning your fingerprints or face. While this isn’t entirely far off from how this technology is applied, it barely scratches the surface of its potential and practical benefits.

You’ll probably gain a better inkling of how the technology functions if you learn the individual definitions of both. Biometrics, in general, is a way of measuring and analyzing the fundamental characteristics of a person (i.e. behavior, physical features). It is most often used in tandem with authentication. Behavioral biometrics could also involve a person’s voice or body language, and even pertain to his unique keystroke patterns.

Authentication, of course, is simply the act of confirming the identity and genuineness of something. More often than not, it is an individual that needs verification but it could also be a certain process. Put together, the terms evidently have one common goal: heightened security.

How Biometric Authentication is Utilized for Mobile Payment Security

Payments that involve fingerprint scanning and facial recognition are already being conducted worldwide, and these are only expected to become the norm with the passage of time. In the mobile industry, developers often use apps to perform the authentication.

It could be an app that is tied solely to an online business (like in the case of Alibaba’s Smile to Pay app). It capitalizes on the facial recognition technology at present. While it does make use of smartphones for verification, the technology doesn’t really rely on mobile phones consistently for verification.

There are other ways in which that kind of setup is applied. Presently, the most common way involves fingerprint scanning and voice command that serves as an alternative to inputting one’s username and password or when confirming the use of your credit card.

Blockchain technology is also more than willing to utilize this kind of setup. These kinds of emerging technologies have already gathered enough authority to influence the way payments can be made differently and more securely.

Ultimately, the advent of smartphones that have fingerprint scanning features (through built-in sensors) practically seals the fact that mobile payments are to become the norm in the future.

Advantages of Biometric Authentication

• The most apparent and best reason for the implementation of biometric authentication is better overall security. Of course, better security only ever translates to better trust, which would create a domino-like effect that would only improve the way business is conducted.
• It can also streamline the whole process of paying for practically anything. The simple act of having your face or finger scanned immediately erases a lot of the steps involved in standard identity verification. In short, biometric authentication brings better convenience along with veritable time-saving benefits.
• The technology can also deter plenty of fraudulent activities involved in mobile payments before they even occur.
• It gives better opportunities for data analytics and makes auditing easier as well.

October 04, 2018

Isn’t it easy to just take your smartphone and walk up to a shop and buy anything you want? No more pocket changes, no more huge wallets and no more extra cards. Just your smartphone is what you need in this new cashless era!

Mobile wallets can now make your payments at the tap of your finger. Due to its ease of use, many have started accepting payments through mobile wallets and the consumers have also started seeing the advantages that come with it.

Faster checkouts

In mobile wallets, the customer can now add all their card details to use for payments in the future. By adding this, customers can just check out by holding the device in the proximity of the Near Field Communication (NFC) enabled devices and make the transaction. Now, they don’t need to wait for a long time in a line, pick up a card and swipe it or worse, count the cash to buy things. Mobile wallets have drastically reduced the time one needs to wait for checkout and it also reduces the hassles of carrying multiple payment cards.

Loyalty Programs

Mobile discounts and rewards through loyalty programs can actually increase the sales and also helps in increasing customer retention. One of the early successful loyalty programs with mobile payments was by Starbucks wherein for every 12 purchases a customer makes through their mobile wallet, they will get a cup of coffee for free. Through this promotion, Starbucks was able to register 11% of their sales through mobile wallet payments. Such loyalty programs can benefit the consumers and also the companies; so it’s a win-win for both.

High security

Usually, when you use credit cards to make payments, there are chances of the credit card number being misused. But with mobile wallet payments, the card details are secure and on top of that, many other biometric password protection factors make sure that your card details will be safe with you. You can experience high levels of security with mobile wallets than with the physical cards.

Cashless and much more!

While we think of cashless transactions when we immediately think of mobile wallets, but they can do much more too! Mobile wallets can be used to store your identity cards like driving license, visa or any other virtual cards all on your mobile phone. Some of the mobile wallets also have the option of storing cryptocurrencies like the Puut Wallet in which one can make transactions with cryptocurrencies like any other normal currency. You can even go an extra mile and save your tickets, biometric passwords, vouchers and receipts too in Puut Wallet!

Mobile wallets have now become a one-in-all wallet in which you can store all payment cards, IDs, tickets and even cryptocurrencies. So now all you need to take when you go out is your smartphone!

August 25, 2018

Choosing the wallet you're going to use to store your coins in is just about as important as your decision to start investing in cryptocurrencies. After all, it practically determines how you're going to store your coins and transact. There is also the equally vital issue of security. As you may already be aware not all wallets are able to assure good protection from hackers and privacy during transactions. In this post, we will make a compelling argument as to why mobile wallets should be your number-one choice among the myriad Bitcoin wallets you can choose from.

Why You Should Opt for Mobile Wallets:

A lot of people have become wary of using mobile Bitcoin wallets because there is a prevailing belief that this kind of Bitcoin wallet is doubly susceptible to hackers. You may have even been surprised once we made this recommendation. However, you'll soon find out that mobile wallets are actually the most convenient and practical to use if you are a consistent trader of Bitcoin. By highlighting first its benefits, we mean to emphasize the overall value of wallets you can access from your mobile phone.

• Easy Accessibility

Who among us in these modern times don't use a smartphone to conduct our day-to-day activities? If you want to always be made aware of what the current status of your Bitcoin is, then a mobile wallet is just perfect for you This type of quick 24/7 accessibility would arguably also allow the user to mitigate and deter hackers from pulling off any kind of malicious activity to their accounts.

• Convenient Bitcoin Transactions

Most of these mobile apps incorporate a scan code that you only need to show to establishments that accept Bitcoin in order to complete a quick transactions. This is the primary reason why mobile wallets as other wallets simply can't boast of providing transactions that are just as fast. This is all the more made better by the less complex payment verification technologies used by these platforms.

• Improving Security

Once you take a closer look at the best Bitcoin wallet apps available, you'll see that their developers are dedicated in tackling the perennial issue of security that has plagued cryptocurrencies right from inception.

The issue of the proneness to the hacking of mobile wallets actually hinges more on the propensity of people to misplace their mobile phones. If one simply remains mindful of their phone or takes extra measures to secure and toughen access to it, then it wouldn't be hard to tackle the problem of security in it.

Conclusion
A mobile Bitcoin wallet is fast-becoming the preferred medium for Bitcoin storage and transaction precisely because it is the one that is getting the most support in terms of development. Smartphone usage is continually on the rise and this is only ever bound to become the norm in the future (if it hasn't already). It's only logical for Bitcoin patrons to develop apps as wallets due solely to this fact. Mobile wallets, simply put, are the most innovative and convenient.

July 03, 2018

All the top economies of the world are already cashless and the developing countries are also aiming a cashless future. One need not carry bundles of cash to all places thanks to cashless economy. Digital payments are very fast and avoid the hassle of tendering exact change or waiting in the line for getting back the excess money paid. When people become aware of the advantages of digital payments they prefer digital cash transactions only. The Mobile Wallet system is risk-free. When the cash that we carry is stolen unless we trace the thief and recover the cash from him we are not going to get the money back. But, in case the wallet is stolen, the debit card as well as credit card can be blocked within seconds just by making a phone call from the Smart phone. When one makes cash payments for all his purchases and other dealings, checking the accounts as well as adherence to the budget limits will be a time-consuming task whereas for those who use the Mobile Wallet Systems, the entire transactions can be checked within seconds. Another interesting aspect of digital payments is that those who make digital payments are entitled to attractive cash discounts. A society that does not require paper currency will be a reality in the not so far away future. Many countries in the world are enthusiastically working to make their economies free of paper currency. Now the mobile digital wallets are made highly secured by way of incorporating a variety of security measures like biometric ID, tokenization, real-time alerts and multi-factor authentication. All sensitive data are concealed as well as scrambled.

Cash back and reward points

The great convenience of digital wallets and the stunning speed of the transactions made through them made them globally popular within a short period. Apart from tracking the expenses and sending money to dear ones in the family as well as friends the mobile wallets enable the users to check their bank accounts, pay for the hired cab, split the restaurant tabs and also effect direct payments against the various bills. The mobile wallets ensure real-time transactions. They make the checking out process faster. Those who use the digital wallets for their money transactions are able to gain rewards in the form of cash back on every purchase which they cannot expect while making cash payments. The mobile wallets offer not simply rewards but, there are various benefits to the users. Through these programs the customers can earn membership, gift vouchers and also loyalty. For each purchase the customer will be securing reward points. Even when the card of the customer is not offering any rewards, he or she will be earning rewards points just because he or she is using the Mobile Wallet System.

Mobile Wallet and digital wallet

Rapid technological advancements will make the Mobile Wallets more affordable, more secure and easier as well as more convenient to use and these wallet systems are poised for converting all money into digital form. The governments also on their part offer a lot of discounts and rewards to encourage digital transactions and to make cashless economy a reality. One should bear in mind that a mobile digital wallet is called Mobile Wallet. When data is tokenized, it is called digital wallet. The digital wallets are required to make payments, to issue travel tickets as well as boarding passes, to issue keys of hotel rooms, etc., and for identification.

June 22, 2018

The way people transacted money has changed a lot through the years. Every decade saw some form of transformation in use of currencies, and also saw the advent of currencies in different forms. Although cryptocurrencies and digital currencies are the new age additions, yet the common man is still striving to understand and implement them fully in day to day lives. But loyalty points have long crept into the pattern of usage and understanding of the common man.

Ever since debit and credit cards were introduced, loyalty points for card usage and through other programs etc, started building into the accounts of users. And now the day has already arrived, when these loyalty points are not just normally redeemed for gifts, but are actually used as replacement of digital currencies or rather as the e-currencies in mobile wallets like Puut Wallet.

Why loyalty points are converted to currencies

There are good reasons why loyalty points are now used as Puut Wallet currencies. Most of the common and popular debit and credit card programs give loyalty points to the users. Hardly there are any cards these days which do not offer reward points. And this is a common marketing strategy too that helps banks and financial companies make people open accounts with them and use their cards. That is why the number of users of various cards who are earning loyalty points is huge. Practically almost any person using a card has little or big amount of loyalty points accumulated against his account.

Because people are more interested in cash than gifts, companies are also giving away cash and currencies against loyalty points rather than offering only gifts. . This is why the use of Puut Wallet has significantly increase over time.

Mobile wallet currencies

Any currency that is digital can become a mobile wallet currency. The transaction using that should be able to be carried digitally while keeping records digitally. Since loyalty points are rewarded online, and they are basically digital formats from the beginning, hence converting them into currencies is a simple step. And then using that ecash through friendly Puut Wallet is just as simple as that. In fact people all around the world are really using their ecurrencies through their mobile wallets wherein a large portion of the currencies are contributed by reward programs and points.

June 13, 2018

Everything becomes digital now especially in the world of trade and commerce, and there seem to be a digital war going on between two of the most commonly used avenues in mobile marketing and digital transactions- Mobile banking and mobile wallet. But what makes mobile banking different from mobile wallet? What makes one a better choice over the other? What makes it easy to use?

Mobile Banking vs Mobile Wallet: Which one is better?

Before Mobile Wallet App was developed, mobile banking has been widely used was already the most popular application that comes to mind when you talk about mobile device and money. The idea of mobile banking is to allow you to connect and manage any bank account by using a mobile device. Instead of calling your bank or going to the physical location of your banking institution, you simply use any mobile device to connect to your bank account and do your financial transactions and needs by using the same. With mobile banking, you can undertake these actions:

• Check your bank accountís balance
• Transfer any amount of money from your account to another
• Send payment on bills
• Depending on your bank, some checks can be deposited as well

Easy of use and limitation:

• Download the specific banking application of your bank.
• You can easily transfer money from one bank to another bank.
• You can easily recharge any kind of value added services.
• You can easily check your transaction statements between your mentioned dates.

When it comes to a mobile wallet, you can also refer to this as mobile money. This is because you have a virtual wallet complete with virtual money, debit card, and credit card in one in your mobile device. The idea behind a mobile wallet is to remove the physical presence of wallet and cards in order to make an outright, instantaneous payment for a purchase of goods or service rendered to the user through a Mobile Wallet App downloaded to your mobile device. With mobile wallet, you can undertake these actions:

• Shop or dine without bringing any cash or wallet, just your mobile device.
• No need to use credit card or debit card for any purchases made online or offline store.
• Virtual shopping even after banking hours.
• Instant payment without counting loose change and bills

Easy of use and limitation:

• Download the Mobile Wallet App such as Puut Wallet
• Set up the app through registration or sign up
• Validate your provided data
• Transfer funds from your bank account to your mobile wallet account
• Be sure to check on the establishment first if they accept this mode of payment

For ordinary banking and digital transactions, some prefer using mobile banking. However, for people who are using their mobile device to purchase a service or goods that needs immediate payment, mobile wallet is preferred. Just like Puut Wallet for Business , when you need to buy supplies overseas and you cannot be there virtually to purchase them, all you need to do is use your Mobile Wallet App and make your transaction efficient and fast.