Mobile payments projected to reach $1.3 trillion annually

Cyber Crime mobile payments

Though this is very promising for the technology, it has also made it very appealing to cybercriminals. As the popularity and use of mobile payments continue to rise to the point that the latest projection for the market is that it will reach $1.7 trillion per year by 2017, cybercriminals have not failed to take notice and are becoming an ever present element of the use of this technology. It is predicted that these security threats will only continue to grow along with the use of the technology. At the…

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Mobile payments use is increasing, but so are security worries

Mobile security payments online retail card

Experts are predicting that the amount of fraud will rise as the usage of these services grows. Though slow to start in terms of consumer adoption, mobile payments technology has the potential to revolutionize the way that purchases are made and transactions are completed. At the same time, as with any growth in technology popularity, this opens the door to fraud. Industry experts are finding that as the trend grows toward the use of mobile payments technology, so does the concern regarding its security and the protection that it provides…

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Mobile security warning issued by FTC

mobile security for smartphone

Smartphone payments may not be as safe as we think, says the Federal Trade Commission. As payments made over smartphones and tablets are on the rise, the Federal Trade Commission has just released a report regarding their perspective on the state of mobile security in m-commerce, and the possible downfalls that it presents. One of the studies included in the report showed that smartphone payments will be mainstream by 2015. The report from the FTC indicated that with this type of adoption as a guide, both carriers and transaction processors,…

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