Consumers are likely to have security concerns over mobile payments

25/07/2012

Consumers Are Likely To Have Security Concerns Over Mobile Payments

An increasing number of people are looking to use their mobile phones to make small payments, but they must be aware of the security issues.

Naturally there are likely to be security concerns when making these transactions, but the likes of MasterCard and Visa have improved their security dramatically in recent years.

Head of business development for mobile wallets at Proxama.com Russell West said familiarising yourself with the technology is the best way for you to ease your concerns.

Mr West said that it is probably safer to lose your mobile phone - even if you have made online payments - than it is to misplace your wallet with cards in it.

One of the main reasons that people are starting to use mobile payments is because of its convenience, according to head of mobile and corporate payments at PrePay Solutions Aoife Hurley.

Mr West added: "So naturally, there's going to be concerns, but after consumers become educated and realise it makes their lives easier, those will go down."

Posted by Peter Robinson

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