Wireless World

A new study from Juniper Research has found that the value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach almost $630 billion by 2014, up from $170 billion this year, representing the gross value of all purchases or the value of money being transferred. The research firm says that growth across all market segments is being driven by the wide adoption of Smartphones and the increased use of apps stores.

SoundBite Communications introduced the general availability of the SoundBite Fraud Management Solution, which is a real-time, multi-channel fraud resolution system for card issuing credit unions. For example, with the SoundBite Fraud Management Solution, when the credit union’s fraud detection engine detects potential fraud it could automatically trigger SoundBite’s multi-channel platform to send a text message to the member’s mobile phone. The cardholder can approve the transaction with a simple text message response and SoundBite updates the account status in real-time. In the event the cardholder refutes the transaction, SoundBite will immediately connect the cardholder to a fraud specialist.

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