Article

  Comment(0)

 
Share:    Email  

How Safe Are Mobile Payments?

Daniel Bortz

Wednesday, May 2, 2012 - 10:45

How Safe Are Mobile Payments? Approximately 12 percent of mobile phone owners made a mobile payment in 2011, according to a recent survey by the Federal Reserve. According to the survey, concerns about the security of the technology were the primary reason respondents gave for not using mobile payments. Industry experts weigh in on security concerns.

or some consumers, paying at the checkout line becomes a lot simpler when they can forgo the plastic card and pay with their phone. Mobile payment applications like the Isis Mobile Wallet, Google Wallet, Square, and LevelUp turn your cell phone into a payment source: Just store your debit card or credit card information on the phone and scan the device at checkout. "Consumers like the convenience factor," says Sarah Jane Hughes, a commercial law professor at Indiana University. But is this new form of payment safe?

[See Is It Safe to Bank Online?]

Approximately 12 percent of mobile phone owners made a mobile payment in 2011, according to a recent survey by the Federal Reserve. According to the survey, concerns about the security of the technology were the primary reason respondents gave for not using mobile payments. Hughes says one security advantage to using mobile payments is that "your phone normally stays within your line of sight. 

 

Read the full story by clicking the link below
http://money.usnews.com/money/personal-finance/articles/2012/05/02/how-safe-are-mobile-pay ments
 
Tags: Mobile Payments, Americas, Google, Security, Square, Credit Card, Mobile Apps, LevelUp

Sponsored Links
 

 

  Article

   Comments(0)

 
Login or register to post comments
[Show comment]

Stay Connected

 
Sign Up for the Latest in:
 
 
Mobile Money Transfer
Mobile Commerce
Micro Finance
Mobile Technology
EMEA
APAC
Mobile Payments
Mobile Banking
Mobile Marketing
Global
Americas
Company
(*)
 

MOST POPULAR

HEADLINES

1.Why mobile commerce is terrified you’ll be banking on Apple Pay
2.Pay your taxes through Airtel Money
3.Apple Pay is only the start: Mobile wallets are about to take off
4. Starbucks to launch mobile commerce initiative for the holidays
5. Android platform is gaining ground as a mobile commerce, adverti
6.Don’t Let Apple Pay Disrupt Your Mobile Payment Strategy
7.Europe leads world in mobile payments as North America lags behin
8.Study finds mobile payments high on consumers’ minds
9.Taxes payable by mobile money in Kenya
10.Ditching your wallet wholesale for plastic cards and mobile payme

FEATURED COMPANIES

MOST POPULAR

BLOGS


 
 

Mobile Financial News from around the web

 
 
 

Inside the DonRiver Network