Mobile Lads Corp. (MOBO) Targets Key Niches in Wireless Transaction Security
July 29, 2014 (www.investorideas.com newswire) The ease of electronic and mobile commerce creates an incredible convenience to consumers, many of which, however, neglect to safeguard their data when they checkout online. The result is billions in financial losses and a significant need for new technologies to circumvent credit card fraud and ensure legitimate, secure payment transactions.
An estimated 16.6 million people in the United States experienced at least one incident of identity theft in 2012, wreaking financial havoc of $24.7 billion, according to the most recent statistics from the Justice Department's Bureau of Justice Statistics (BJS). The same report shows that victims of such crimes didn't even realize their data had been compromised until they were contacted by their financial institution.
Florida-based Mobile Lads operates within this realm of wireless transactions with its line of patented mobile authentication products designed to thwart credit card fraud and resulting identity theft in the consumer finance, web and health payment processing sectors.
Mobile Lads' technologies give users control over the authorization process when making purchases, mitigating the risk for fraudulent activity. The company's xmVerify platform uses top-of-the-line cryptographic services and sends users a transaction authorization request via mobile phone to ensure authenticity. Only at the user's approval will the transaction be completed.
Similarly, the xmBilling platform addresses provides a convenient and secure way to review and authorize automatic billing transactions, easing the challenges and security risks associated with automated and volume-based billing.
Between 2001 and 2011, enrollment among degree-granting educational institutions increased 32% to 21.0 million, according to data from the Institute of Education Sciences. Given the increasing numbers of enrollment, Mobile Lads identified incredible potential to offer its secure wireless transactions to students and their parents.
While most universities and colleges operate a campus card system using ID cards in lieu of debit or cards, certain restrictions hamper its efficiency. In these "flex-dollar" accounts, money must be transferred into the campus system within operating hours of the campus card office; withdrawn using costly automatic deposit machines; or online, which posts risk if the student is using a public computer.
Mobile Lads' xmOne mobile platform is an alternative solution that provides encrypted mobile services such as top-up, payment processing, emergency notification and marketing. The product interfaces with a school's existing campus card account system to enable students to perform a variety of banking transactions directly from their cell phones.
In an increasingly mobile-dependent consumer environment, Mobile Lads is uniquely positioned to benefit from three niches in need of secure payment and billing options.
For more information, visit www.mobilelads.com
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for "The QualityStocks Daily Newsletter" at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks "Ones to Watch" http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
This news is published on the Investorideas.com Newswire and its syndicated partner network
Get free news alerts:
Sign up here
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news as well as creates original content as a news source. Original content created by investor ideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and global syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions and advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers.
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.