Digimarc Corporation has been showing off its new mobile payment SDK at the Money20/20 conference in Las Vegas. The system is integrated with mobile payment platform Mozido, and can also be used for authentication of MorphoTrust digital identity products.
It’s a scanner-based system in which payment is secured by scanning Digimarc-encoded images. Retailers can scan the images on customers’ mobile phones for POS payment, and customers also can use their mobile devices to scan images for payment – scanning an advertisement to immediately pay for a digital download, for example. The company says it’s system is more secure than Bluetooth, NFC, and RFID payment solutions, since its scanning method requires ‘line-of-sight’ data transmission.
That may be true, but it’s also less convenient. The contactless NFC-based Apple Pay system has already begun to make inroads into the mass market, and Apple devices’ fingerprint-scanning biometric security may offer enough of a safety net for consumers to stop worrying about fraud, so it could be a serious competitor for Digimarc and Mozido to reckon with. In any case, the companies are nevertheless wise to push into the growing mobile commerce market, and to emphasize their security features when fraud looms as a growing threat.