Data. Your company probably has access to it. But are you using it to its full potential?

Apriva works with many leading financial institutions in the United States to offer mobile payment solutions to their customers. Through these relationships, we have access to a great deal of analytical data. Behavioral data; anonymized demographic, user-specific data; market and device-specific data; engagement statistics; geographic data – it’s all interesting to us. But it’s also incredibly useful.

Mobile payments may finally be going mainstream. With the recent announcements of Samsung Pay and Apply Pay, it seems that mobile payments may be about to hit their stride. While these new technologies hold a lot of promise for the industry, there’s one aspect that shouldn’t be overlooked: security.  

As more consumers are taking to their phones for mobile payments, more companies are seeing the business benefits that mobile commerce can offer above and beyond just being a payments platform. Companies that already use mobile payment applications are just beginning to realize the untapped potential of associated marketing and loyalty programs through those applications, and companies that haven’t yet utilized mobile payments are starting to evaluate the added benefits of these platforms.

2014 was a rough year for retailers when it came to credit card data security. Home Depot, UPS, Michaels and even PF Chang’s fell victim to hackers who used malware to expose vulnerabilities in their payment systems, causing data breaches that affected millions. Customers’ private information was made available, including their e-mail accounts, credit card numbers and home addresses, leaving consumers frightened that they would soon be victims of identity theft.

Today’s payment landscape is changing at a breakneck speed. We are seeing exciting new ways merchants can reap the benefits of mobile tech to lower costs and remove the pain associated with combining mobile apps with their payment solutions.


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