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payments

What are the main benefits of Bitcoin? Get all the essentials

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Have you ever thought about what are the main benefits of Bitcoin and why are people using it so often while shopping online? It seems that a great majority of individuals and companies are using Bitcoin as their main method of payment online for numerous reasons.

Bitcoin represents the decentralized digital currency that is able to be sent from one user to another on the P2P network (peer-to-peer) without any need for any kind of the third party between them. All the transactions are being recorded in the blockchain, which is a public distributed ledger, and verified by network nodes.

The reason why bitcoin is so popular is that there are many benefits to this method of payment. In the following, we will tell you what are the advantages of this method of payment and why you should consider paying in the future exclusively with Bitcoin. [Read more…] about What are the main benefits of Bitcoin? Get all the essentials

Ant Group prepares for ‘biggest IPO in history’

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Ant Group, the online payments provider that could be described as the Asian equivalent of PayPal, is preparing for what some are predicting will be the biggest initial public offering in history.

Parent company Alibaba Group is set to float the company on the Hong Kong Stock exchange early next month, according to Reuters.

Ant’s Alipay app has more than 700 million users across Asia and processed $17 trillion in transactions in the 12 months to June this year, reports Bloomberg. [Read more…] about Ant Group prepares for ‘biggest IPO in history’

What the auto industry can learn from payments sector about cybersecurity

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ultimaco information security

By Johannes Lintzen, vice president of sales and business development at Utimaco

Most big automotive brands have been around since the time “before connected cars”. Since automobiles are typically built incrementally through a complex supply chain, combining existing and new technologies developing at different speeds, it is difficult to ensure that a vehicle is entirely connected.

This includes being accessible for over the air software updates as well and being protected against security breaches, while protecting a driver’s privacy – all at the same time.

With the increase in connected cars on the roads, and an industry disruptor in the name of Tesla, many in the automotive industry are looking for ways to secure their products. There are some key similarities between the auto industry’s current situation, and what payment companies had to consider with the advent and wider adoption of payment cards. [Read more…] about What the auto industry can learn from payments sector about cybersecurity

NXP signs deal with China’s Xiaomi on intelligent transport payments technology using NFC

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NXP and Xiaomi have agreed a mobile payments technology deal for public transit systems in China, a country with some plans for intelligent transport networks. 

As a key part of the deal, Xiaomi integrated NXP’s Secure Element and Near Field Communication (NFC) solution into its next-generation flagship Mi 5 smartphone, which the companies believe will help accelerate the adoption of mobile payments in China.

The newly launched Mi 5 models will allow customers to use tap-to-pay for travelling, seamlessly enter and exit public transport systems without using a ticket or travel card, and enable simple balance checking all while ensuring payment security, claimed the companies. [Read more…] about NXP signs deal with China’s Xiaomi on intelligent transport payments technology using NFC