Mobile Lads has put together a comprehensive three-pronged suite of authentication and payment software for the mobile space:
• xmVerify – a real-time transaction authorization service
• xmBilling – a secure end-to-end billing authorization system
• xmOne – a modular, patented, standalone applications platform that lets users perform a variety of mobile services, from topping up prepaid accounts to checking their balance, all within a secure mobile environment
MOBO’s mobile authentication and payment suite represents a wide-area network solution for ubiquitous data security that also offers granular analytics. This technology stands poised to deliver a revolution in the way end users interact with their mobile devices, while also redefining mobile customer service.
Take xmVerify’s automated issuance of a secure notification to users that allows them to control the authorization process when a purchase is made, helping to substantially offset the upwards of $11.27B in credit/debit card fraud which occurred in 2012 alone. The ability to get a notice on your mobile explicitly requesting authorization, driven by MOBO’s advanced security app which features one of the highest cryptographic standards today and algorithms designed specifically to operate efficiently on low battery/computational power, is the sort of advantage that makes the company’s suite of offerings revolutionary.
The ability to handle automated billing easily with xmBilling, while retaining all of the review and authorization powers required to have a truly secure solution, allows for low-cost volume billing to be executed in a manner that is thoroughly consistent with the highest protocol standards in the industry today, but which is also easy to administrate. Immediate and personalized, xmBilling exploits the mobile landscape beautifully, firing off a custom text message and URL that leads to an e-bill where customers can go over the details and then authorize using their PIN. Easy to use wide-area mobile security solutions like this, which empower commercial activity, will continue to find increasing demand as mobile use keeps growing.
The latest DoJ data indicates that just under 11.6M Americans suffer from some form of identity theft each year (7% of households) and that financial loss attributed to identity theft rose 87% from 2010 to 2013, placing the current value well above last year’s $24.7B figure. Pew Internet Project’s latest research shows that as of January 2014, some 58% of American adults have a smartphone and 90% have a cell phone, clearly indicating how quickly mobile is setting itself up to become a permanent fixture of the commercial transaction landscape. Given the fact that the largest demographic segment in the DoJ identity theft data is 18 to 24 year olds and that this same segment represents the fastest growing/largest portion of cell phone and smartphone users according to the Pew data, the market value and future of MOBO’s easy-to-use solutions should be abundantly clear.
The numerous benefits to universities and colleges, as well as their students, of the company’s xmOne offering were boldly highlighted in the company’s case study on campus card systems. The research by MOBO threw a bright spotlight on the failings of extant card solutions, as well as the benefits of xmOne. Clearly identified in the case study were drawbacks inherent in the top-up campus ID card solutions currently so widely in use, like card office hours and location restrictions, public internet security risks, point-of-sale inconveniences, as well as the costs associated with using automatic deposit machines to top up the cards. By contrast, xmOne not only interfaces with the existing card account system used by a given campus, it lets users do all the work from their mobile, handling deposits and balance checks with ease from anywhere they have a connection, whilst simultaneously offering attractive, campus-specific branding options.
For more information, visit www.mobilelads.com
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