Verizon’s Mobile-Payments Dream Closer to Reality
August 24, 2010 - News
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Verizon’s Computing as a Service, a cloud computing solution, has just passed a compliance audit that is one step toward storage and transmitting of credit card info in a mobile payments system. It’s the first cloud solution of its kind to get the nod from the Payment Card Industry Data Security Standard (PCI DSS).

This new security label will help the carrier attract businesses and organizations looking for a cloud-services vendor that they feel will best protect user information.

Earlier this month we learned that Verizon was teaming with fellow telcos AT&T and T-Mobile on mobile-payment plans that would allow them to go head-to-head with credit card giants Mastercard and Visa. The telcos seem like natural players in this realm since their smartphones and other devices will be used to make the transactions.

The new certification is also expected to help retailers and other businesses make a move into the cloud. But even with Verizon’s certification, there are many other obstacles before mobile payments become widespread. In addition to user concerns about security – which this latest news might relieve just a bit – there’s a hardware issue. Handset makers haven’t been in a hurry to install what’s called “near-field communication" chips into their devices due to the fact that mobile payments haven’t exactly taken off. NFC chips are what cash registers use to read credit information.

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