A British public body has created a competition to foster innovation in the field of mobile commerce and payments security. The Technology Strategy Board is a business-led executive non-departmental public body, established by the Government. Its role is to promote and support research into, and development and exploitation of, technology and innovation for the benefit of UK business, in order to increase economic growth and improve quality of life.
This government body usually uses these competitions to foster innovation. Now it has decided to invest up to £1.5m “to stimulate new solutions for mobile commerce to counter the threat of theft and fraud.” The Board believes customers are moving away from personal computers to smartphones and tablets and thus the next generation of online commerce will be mobile. As such, the organization defends the need to create confidence and security in these new platforms.
The competition will finance organizations “to develop mCommerce that demonstrate secure attributes and reduce the probability of fraud.” The competition has opened on 19 November 2012 and the deadline for applications is on 16 January 2013. Both public and private organizations, as well as charities, are encouraged to apply.
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