5 Burning Questions on Mobile Platforms: Fiserv's Calvin Grimes
Calvin Grimes sits down in the Briefing Room Hot Seat to answer five burning questions about the recent war of mobile platforms and to talk about "what's next" for Fiserv.
Calvin Grimes is manager of mobile solutions at Fiserv, overseeing the company's Mobile Money and Mobile Money FastTrack products. Calvin joined Fiserv in 2000, and has held several roles, including product and implementation management. Calvin has also managed numerous partnerships and has had a particular focus on the mobile banking and payments space since 2007. He is a frequent industry speaker, and has been quoted in publications including American Banker, U.S. Banker and The Credit Union Journal.
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Calvin is dead on in pointing out that security of a mobile payment system is key and that at the same time a user friendly experience must be presented.
What is missing today from any mobile platform is that every segment of the payment process is secure with the exception of the 1st step.
Nothing today validates that the person using the mobile device is who they say they are, all platforms rely solely on a PIN or password for device/platform access.
The strongest chain is only as strong as its weakest link. mPayments have not been hacked with any frequency simply because the amount and number of the transactions has not warranted enough hacker attention. That will change soon as mPayments explode in numbers and types.
Posted by Michael J. Schultz, 18/01/2010 11:13am (2 years ago)
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