Security and privacy are a top concern for retailers in the mobile payments space

Mobile Payment Security

Mobile payments continue to be a challenge for retailers When it comes to mobile payments, retailers are undeniably interested, but they have major concerns that must be addressed before they can show wholesale support for new payment platforms. A new report from  Retail System Research suggests that retailers are more concerned about protecting consumers, and themselves, from fraud than they are about actually accommodating mobile payments. Mobile payment adoption among retailers is expected to slow until security concerns are effectively addressed. Security and privacy are significant concerns for retailers According…

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Mobile payments provide a new transaction method for Zimbabwe sex workers

Mobile Payments service

Workers within that industry have found a number of advantages to being paid over smartphones. In Zimbabwe, the unemployment rate in formal industries has been estimated to be as high as 90 percent, and an informal economy – including those in the sex trade – have now been making use of the EcoCash mobile payments system to be able to accept transactions more safely and securely than other methods. There are a number of reasons that sex workers have found that using smartphone payments is a good option. According to…

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Mobile payments fees could break the $37 billion mark in 2 years

mobile payments revenues

Revenues through smartphone and tablet based banking, money transfers and remote payments are skyrocketing. According to a recent study by Informa Telecoms & Media, service revenues or fees for various mobile payments services could break the $37 billion mark by the year 2016. Newly released m-commerce data has shown that these transactions could skyrocket over the next two years. The report from Informa suggested that the mobile payments markets that stand to enjoy the greatest opportunities in earning service fee revenues are in remote transactions for services and products, as…

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Most British consumers fear smartphone hacking with mobile payments

NFC Technology in transportation - Mobile Payments London

Worries about hacking into smartphones have been expressed by most British consumers when discussing concerns related to the use of mobile wallets and payments through their mobile devices. Intersperience data has shown that it is likely that these worries will slow the acceptance of new mobile payment systems across the country. In order to obtain this data, Intersperience interviewed more than one thousand consumers in the United Kingdom concerning their attitudes toward using mobile wallets and other mobile device payment systems. They discovered that only 17 percent wanted to use…

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