Mobile signatures transform any mobile phone into an identity card and signature pen for online and mobile services. A user-chosen numerical password, or signing PIN, tells the SIM card to generate a digital signature. The digital signature is then sent via encrypted SMS; the password remains inside the secure SIM and is not exposed over any network.
Beyond secure online banking and eCommerce, mobile signatures enable a wide range of other new value-added consumer and corporate services, all based on the concept that a mobile phone and SIM card are the smart card and reader you always have with you.
A Forrester report effectively clarifies the various strengths and obstacles of mobile signatures from both a business and a technological perspective. While easy to use, setting up a mobile signature service is complex and has yet to gain truly solid footing in many markets, but holds substantial promise for the future. The report goes more in detail about the potential implementation set-ups for various market types.