Hybrid collaboration services like Payments using Mobile, In-store or Web allow a strong national reach of transactions. Mobile network operators offer the same where MS enables mobile money to transact even over NFC & Rf Id systems. These mechanisms though disruptive are new fresh and innovative methods of doing the same barter style transaction.
The newer payment methods are effectively digital representations of transactions. It allows speedy transactions at a convenience pace. The lack of brick or retail outlets do not stop the digital transactions and so not only encourages casual spending but also greater use of mobile networks. In an instant, the transfer of money can be person to person. The mobile wallet allows a seamless integration method that further fuels value add transactions.
Mobile payments are progressive and ensure real time transactions with real time results, in fact, its easier to notice the loss of your mobile device than your credit card. Security is a little more intense on the mobile device rather than just the chip-pin number. Regardless the physical component, security around transactions will have commonality.
Over the air ( OtR ) transactions are subject to wireless interceptions, though the use of protocols and encryption can help mitigate immediate threats. However, the mobile device itself be cloned or software downloaded allowing the threat of data theft. So, using 2 factor mechanisms and virus apps will be an expected normality. Though the complexity should present itself in simple visually understandable mechanisms to the user.
The geolocation capabilities allow another value add feature to mobile transactions where sales can be focused to specific demographics and regions. This is possible by the acceptance of data disclosure to the network. This can increase sales via the device or encourage foot fall into a retail outlet, where the transaction can be completed by a kiosk or PoS terminal. The PoS devices are open to DoS attacks and themselves need traffic filtering. The merchant terminal may also require tamper proof mechanisms, theft, recording or hand-held mechanisms. Augmented reality might offer a solution where you can blink twice slowly to buy something at the checkout desk ?
Augmented reality will fuse the Internet of things concept into a virtual one. Streaming content in an virtual world has digital rights elements as the content is transactional in nature, the content needs to provide digital piracy provider rights and royalty mechanisms. Typically, media platforms use digital rights software to keep track on media transactions.
Other mobile transaction occurring over mobile networks, like GSM, can provide data over clear text , there is an obvious trust the user and system interaction. Here strong cryptographic mechanism and secure messaging needs to be adopted. Operators can also use the simplicity of mobile transactions to provide value add services beyond money transactions and calling. Having the user already connected into a grid ensures that trust can be reciprocated by the network operators shown by providing financial services and utility payment options from the hand-held device and all from only using the GSM network.
These are closed looped systems whose methods of Confidentiality, Integrity and Availability are very much similar , but not the same as IP based networks. So whilst, the IP networks focus on TCP / IP protocols, the GSM networks secure using encryption and security modules that transparently provide a secure service.
The internet of things is clearly coming, how it fuses the connectivity of things to enable transaction of things will push the boundaries of technical creativity.