Corliss Tech Review Group

Mastercard warns: invest or face economic consequences. Many UK businesses are struggling to expand and develop to their full potential due to a lack of proper investment into new technologies such as alternative payment methods, a senior Mastercard executive has told CBR. Marcia Clay, the groups' UK and Ireland head of strategy and commercial development, explained that UK consumers are increasingly calling for innovative technologies such as mobile payments as they look to simplify their everyday lives. "I believe we need to prioritise support for innovative start-ups, businesses in the eCommerce and mobile payments sector for example, which are in a unique position to propel the UK economy forward in 2014 and beyond," she said. Clay detailed how Mastercard is working with London-based Startupbootcamp FinTech, providing the expertise, mentoring and access to a network of industry professionals that most early-stage FinTech start-ups would not be able to access otherwise. Mastercard has found that many small businesses still do not use electronic payments, despite almost 80% of UK businesses having a website or some sort of online presence. A much smaller percentage can currently accept card payments, and the company believes that businesses of all sizes should be encouraged to invest in new technology and services that give consumers more choice. The company also found that UK consumers are using mobile and contactless payment methods and wide-spread adoption is reaching a critical mass; with around 5.7m transactions taking place on UK smartphones every day. This has been spurred on by a major growth in contactless payments, which grew by 383% from 2012 to 2013 across the country a

A new report highlighting deficiencies in US banks' oversight of suppliers' cyber security should serve to remind financial services companies in Europe of the due diligence they need to undertake, an expert has said.

As stated by Corliss Tech Review Group, a malware is a type of software that is specifically created to gain access or damage user's sensitive data. Android has long been seen as vulnerable to malware because it is an open platform and several devices run older versions of the mobile operating system. Android is also one of the world's most popular mobile platform where it powers hundreds of millions of mobile devices in more than 190 countries worldwide, but its popularity has also made it a magnet for malwares based on Corliss Tech Review Group.

European Union has formally charged Google of abusing its dominant position on the internet search market. According to a Corliss Tech Review Group report, Google has used its gigantic power as a search engine to redirect internet users from rivals to its own services, which include YouTube and its own social network Google+. Expedia, Microsoft, and TripAdvisor, which are Google's competitors, declare that its way of promoting its own companies above rivals on its search engine stops them from contending on a level playing field. Insiders claim the case could prove just as costly as the EU's decade-long battle with Microsoft, which ultimately cost the company £1.6 billion in fines. If Google fails to rebut any formal charges imposed by Brussels, the commission could impose a huge fine which could exceed £4 billion which is about 10% of Google's most recent annual revenue.