Triangle Internals


So, how does triangle work?

Triangle uses the NFC interface of the device to send signals to the RFID chip of an enabled card. When the card comes to close proximity of the device, it gets activated and a series of data exchange between the device and the card occur. This data exchange is dictated by the standards set by the card manufacturers and is quite a challenge to implement correctly for all card brands. A challenge, that you as the developer of an application should not need to worry about.

We extract all the necessary information from the payment card for you and pass it along. You then have the freedom to do whatever you want with that data. Cardholder information is sensitive data, the usage of which is regulated by the Payment Card Industry. We follow all the guidelines and provide you the information in encrypted format. A key requirement of our API design is security and we've made it our top priority to set you up in such a way that you are the least susceptible to issues around security.

In order to grab the information from the card, your user only has to hold the card behind their device for 1-2 seconds. Compare this with the traditional method of user having to enter their card number, expiry month, expiry year, CVV code and in certain situations billing address! There are a variety of studies done on shopping cart abandonement rates. You put a lot of effort into getting the user to the checkout screen only to see 67% of them leave 1. The primary reason for this is the burden of manual card entry. Users hate having to punch their information into bunch of fields. Not only does it seem unnecessary in this day and age, it's a very time consuming process. Many applications cache the payment credentials for consecutive payments, but the user still has to go through the pain the first time they use each application. Triangle helps you tackle the problem at its roots.

Why does Triangle benefit your app?

Consumer behavior studies show that the involvement of mobile devices in shopping is increasing. Not only are devices used to aid in selection of items to be purchased, they are also becoming the vehicle on which the purchase is done itself. This fact coupled with increased availability of NFC enabled devices and RFID enabled payment cards opens the door to a whole range of new possibilities. Triangle enables you to capitalize on this trend, while improving your shopping cart abandonment rate for existing scenarios. Below are a set of statistics that help illustrate these points.

Mobile Payment Users 2

  • There will be 212.2 million mobile payment users in 2012 (up from 160.5 million in 2011), m-payments will total US $171.5 billion in 2012 (up 61.9 percent from $105.9 billion in 2011).
  • Gartner predicts that in 2016 there will be 448 million m-payment users, in a market worth $617 billion. Asia/Pacific will have the most m-payment users, but Africa will account for the highest revenues.

Mobile Customer Shopping Behavior 3

A survey of 5013 US smartphone owners found:

  • 79 percent use a smartphone to help with shopping and 70 percent use phone in store.
  • Of those: 54 percent located a retailer; 49 percent compare prices to help decide; 34 percent search in-store inventory; 44 percent read reviews and product info; 46 percent called a retailer; 40 percent looked for promotions and discounts; 28 percent used a discount coupon on phone.
  • 74 percent of smartphone shoppers have made purchase following research on phone.
  • Of those: 76 percent purchased in store; 59 percent purchased on their PCs; 35 percent purchased on their smartphones; 27 percent purchased via a mobile site; 22 percent purchased through a mobile app.
  • The average annual spend on mobile purchases was US$300.

NFC Statistics 4

  • Global NFC m-payment transactions will be almost US $50 billion worldwide by 2014 (Juniper Research, June 2011).
  • Almost 300 million or 1 in 5 or smartphones worldwide will be NFC-enabled by 2014 (Juniper Research, April 2011).
  • NFC will be 32.8 percent of global m-payments transactions – estimated at US $1.13 trillion – in 2014. Volume shipments of NFC phones are expected in Western Europe and North America in 2011 ( IE Market Research, July 2010).
  • 863 million units or 53 percent of new handsets will be NFC-enabled in 2015. The total payment value for NFC globally will exceed €110 billion in 2015 (Frost & Sullivan, Feb 2011).
  • There will be 169 million users of mobile contactless payment in China in 2013. Total number of m-payment users will be 410 million, making China the largest m-payments market in the world (Celent, Nov 2010).
  • NFC Chip Makers predict there will be at least 40-50 million NFC phones on the market by 2011, based on orders for NFC chip sets (NFC Times, Oct, 2010).
  • 47 million Japanese have adopted tap-and-go phones in three years – this is one of the fastest roll outs of electronic products in human history. East Asians will continue lead this market because governments and industry stop inter-industry haggling enabling projects that benefit the nation go ahead. (IDTechEx, R&M, Feb 2011).

Mobile Handset Maker Marketshare 5

Top ten mobile phone manufacturers in 2012 (millions of units) according to Gartner Top five mobile phone vendors, shipments, and market share in 2012 (millions of units), according to IDC
Vendor 2012
sales
2012
market share
2011
sales
2011
market share
Vendor 2012
sales
2012
market share
2011
sales
2011
market share
Samsung 384.6 22.0% 315.1 17.7% Samsung 406.0 23.7% 330.9 19.3%
Nokia 333.9 19.1% 422.5 23.8% Nokia 335.6 19.6% 416.9 24.3%
Apple 130.1 7.5% 89.3 5.0 Apple 135.9 7.8% 93.1 5.4%
ZTE 67.3 3.9% 56.9 3.2% ZTE 65.0 3.7% 69.5 4.1%
LG 58 3.3% 86.4 4.9% LG 55.9 3.2% 88.1 5.1%
Huawei 47.3 2.7% 40.7 2.3%          
TCL 37.2 2.1% 34 1.9%          
BlackBerry (RIM) 34.2 2% 51.5 2.9%          
Motorola 33.9 1.9% 40.3 2.3%          
HTC 32.1 1.8% 43.3 2.4%          
Others 587.4 33.6% 595.9 33.6% Others 737.5 42.6% 716.8 41.8%
Total 1,746.2 100.0% 1,775.7 100% Total 1735.9 100.0% 1715.3 100.0%
Source: © Gartner (Feb 2013) Source: © IDC (Jan 2013)

1 http://baymard.com/lists/cart-abandonment-rate

2 http://www.gartner.com/newsroom/id/2028315

3 http://www.google.com/think/research-studies/the-mobile-movement.html

4 http://mobithinking.com/blog/near-field-communications

5 http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a#mobilephonepenetration

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