A survey conducted by ValidSoft and FSTech has
revealed experts’ concerns about security of new payment
methods.
Over 100 Chief Information Security Officers’
(CISOs) and heads of security were questioned on card-related
fraud, reducing fraud, uptake of mobile wallet and the use of voice
biometrics in mobile banking.
Go deeper with GlobalData
Of those surveyed, 71% thought that UK
consumers were not ready for the mobile wallet, even though it is
widely believed that the mobile wallet market is expected to expand
in 2012.
The mostly likely factor to prevent UK
consumers from accepting the mobile wallet next year is security,
they said.
According to Datamonitor, m-banking usage in
the UK will not only accelerate and match global uptake, but also
overtake the internet as the main way for consumers to bank.
63% of banks surveyed believed that m-banking
could decrease fraud, when asked how they felt the public viewed
their efforts to reduce fraud.
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By GlobalDataHowever, when asked whether it was important
to shop online securely, only 54% said it was essential.
