When Apriva first debuted their mobile commerce technology in 1999, the company’s main tenets were security, mobility and connectivity. So much has changed in the worlds of technology and mobility since that time, and yet those founding principles have served the company well and helped them build a strong foundation for today’s mobile commerce challenges.
Apriva recently participated in the ITEXPO Miami event, and TMC’s Erik Linask (News - Alert) got to speak exclusively to Brian Sadowski, SVP of Info Tech at Apriva, about the company’s initiatives. Sadowski explained how the company’s foundations in security, mobility and security are serving them well as they stay on the cutting edge of mobile commerce technologies for the point of sale and government market verticals.
“There’s a strong overlap in terms of those key principles because we’re able to leverage our secure assets in the point of sale industry, which as we know is becoming more and more of a target for fraud,” said Sadowski. “The mobile element of payments starts to introduce more vulnerabilities and the threat factors around now having these devices that have unlimited capabilities and connectivity options.”
There are opportunities to create highly secure devices and transactions, and Apriva believes choosing the correct technology partners is a huge component in improving wireless payment security overall. The company does a lot of work with the government, and so they offer high levels of encryption and tokenization, which can carry over well into the point of sale industry. The company’s technology is already being white labeled by two of the top five banks in the country and Apriva believes there is a lot more untapped market potential.
M2M was a huge topic of discussion at the ITEXPO (News - Alert) show, and Sadowski said there’s a major crossover with the mobile commerce market. “I think it’s an untapped opportunity for a lot of our clients,” he added. Apriva already does a good amount of business in the vending space, and Sadowski said studies have shown that if vending operators embrace cashless payments they can quickly see a 20-percent spike in sales and revenue opportunities. Of course, how that will play out is another issue as vendors work out how to migrate from traditional attended commerce environments to self-service kiosk type setups.
Apriva is certainly benefiting as the mobile commerce industry continues to define itself. The company reported that they processed more than $9.55 billion point-of-sale gateway transactions in 2013, a 17.3-percent increase from the previous year. They also experienced a 300-percent increase in mobile payment software purchases.
Edited by Cassandra Tucker
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