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.Banks are falling behind on mobile commerce
2.Ericsson study sees bright future for mobile banking
3.UK mobile payments set to grow this year
4.Why China Will Lead Innovation in Social and Mobile Commerce
5.Idea Cellular launches mobile wallet, Idea Money
6.Mozilla aims to break Indian mobile market with $33 smartphone
7. Will WeChat Succeed in Mobile Commerce?
8.How Barclays is restoring banking trust with innovation
9.Sequent Awarded “One Tap” Mobile Payments Patent
10.Mobile commerce popularity crown handed to eBay

FEATURED COMPANIES

MOST POPULAR

BLOGS


 
 

Mobile Financial News from around the web

 
 
 

Inside the DonRiver Network