As adoption of mPOS solutions amongst retailers has increased in recent years, the adoption of smart phones with biometric verification means that retailers no longer need to invest or upgrade POS hardware. For instance, Amazon Go has launched a grocery store that doesn’t require shoppers to wait in line or use a checkout at all. Moreover, technological advancements including the advent of near field communication (NFC) technology, QR codes, and biometrics have revolutionalized the mPOS market. All that being said, key data security vulnerabilities within mPOS technology remain.
As such, researchers identified Man in the Middle (MitM) and Remote Code Execution (RCE) attacks that are possible across a host of the most popular mPOS solutions. Nuggets is calling for payment providers and technology vendors to take the issue of data security more seriously, in order to avoid a major consumer backlash in the future.
The company’s payment, login, and verification solution enables fast payments for consumers without sharing any personal information with merchants. This means that users have full control of the storage of their data, and can make smartphone payments without sharing it. Nuggets partnered with payment providers such as QFPay and LatPay, which has a dedicated mPOS App solution, thus bringing the ‘no data sharing’ payments ecosystem to life for consumers.
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