As the mobile payment demand continues to rise internationally, so does the global value. According to Telecoms, the global value of mobile payments is set to reach near $1 trillion worldwide by the year 2015. The demand for such is determined by the growing enthusiasm for consumers to shop within platforms that are ever changing and up-to-date. Today’s consumer base relies heavily on convenience and the innovation of new applications that bring e-commerce within a hand’s reach.
This also brings up the topic of security. Gerry Penfold, partner of KPMG Risk Consulting says, “there is certainly scope for collaboration between smart-phone manufacturers, telecom companies and retailers but the big, unanswered question revolves around who the customer will trust with their data and their mobile cash. Battle lines will be drawn around issues such as security, infrastructure and interoperability of devices. For consumers, speed and security of payment will be the mark of success.” Therefore, SafetyPay is the only secure solution that ensures no credit cards or financial information needed to make online payments.