Mobile payment is being adopted all over the world in different ways. Combined market for all types of mobile payments is expected to reach more than $600 billion globally by 2013, which would be double the figure as of February, 2011, while mobile payment market for goods and services, excluding contactless NFC transactions and money transfers, is expected to exceed $300 billion globally by 2013. Read more – ‘What is a Mobile Payment?’.
PCI DSS stands for Payment Card Industry Data Security Standard, and is a worldwide security standard assembled by the Payment Card Industry Security Standards Council (PCI SSC). The PCI security standards are technical and operational requirements that were created to help organizations that process card payments prevent credit card fraud, hacking and various other security vulnerabilities and threats. The standards apply to all organizations that store, process or transmit cardholder data – with guidance for software developers and manufacturers of applications and devices used in those transactions. A company processing, storing, or transmitting cardholder data must be PCI DSS compliant. Read more – ‘Secure Your Application – PCI DSS Specifications’.