A new Worldpay survey of UK consumers confirms that half of those polled have used a contactless method to pay for goods at least once, with 40% of respondents opting for contactless payments a few times a week. According to Ben Lobel of SmallBusiness, the survey also found that the advent of Apple Pay and Android Pay has prompted two thirds (67%) of 16-34 year olds to pay with their smartphones instead of cash or plastic. Perhaps not surprisingly, 54% of UK consumers expect their smartphones to replace cards as the primary method of payment within the next five years, while one third believe cash will become obsolete by 2020.
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Millennials heart mobile payments
A recent Square survey cited by Business Insider found that 45% of millennial respondents (18-34) have made an NFC payment. According to Business Insider, the poll is a “good indicator” of where mobile payment adoption is headed, with the publication forecasting a compound annual growth rate (CAGR) of 80% through 2020 to reach $503 billion.
Security is “often overlooked” for the IoT
The Online Trust Alliance (OTA) has determined that the overwhelming majority of publicly reported Internet of Things (IoT) vulnerabilities publicly disclosed over the last year could have been easily avoided.
Rethinking system architecture as Moore’s Law wanes
Ed Sperling of Semiconductor Engineering recently observed that chipmakers are increasingly relying on architectural and micro-architectural changes as the “best hope” for optimizing power and performance across markets, process nodes and price points.
“While discussion about the death of Moore’s Law predates the 1-micron process node, there is no question that it is getting harder for even the largest chipmakers to stay on that curve,” he explained.
Online purchases via Apple Pay & Android Pay to hit $8 billion by 2018
Analysts at Juniper Research say the value of digital and physical goods purchased via mobile ‘OS-Pay’ platforms will increase by fifteen times in the next two years.
More specifically, a combination of in-app purchases and website retail payments is projected to drive annual spend via Apple Pay and Android Pay to $8 billion in 2018, up from $540 million this year (2016). In addition, more than 85% of remote goods payments are forecast to be made using mobile devices in 2021.
Why did DishTV India choose an embedded root-of-trust?
Earlier this summer, DishTV India selected Rambus’ CryptoMedia Security Platform for use in its Pay TV satellite system. Essentially,CryptoMedia ensures secure distribution of premium content for cable and satellite operators with a hardware root-of-trust embedded in the set-top-box (STB) chipset that is resistant to side-channel attacks.
With 14.9 million subscribers and a growing user base, DishTV India required a simple, yet effective method of protecting premium content from unauthorized access. Ultimately, DishTV India chose Rambus’ CryptoMedia technology over competing solutions to facilitate the design of a secure, cardless set-top box.
