MOBILE PAYMENTS
“ In India , South- East Asia , and South America , younger generations have skipped the process of owning a credit or debit card in favour of mobile apps ”
DAVE CARR TRANSFORMATION DIRECTOR , ACCESS PAYSUITE
Dave Carr , Transformation Director at Access PaySuite , says : “ In India , South- East Asia , and South America , younger generations have skipped the process of owning a credit or debit card in favour of mobile apps . In China , QR codes are the primary form of mobile payment , widely used across the country rather than NFC technology seen elsewhere .”
Security concerns with mobile payments Security remains a critical concern in the mobile payment space . Despite the convenience , users are wary of potential vulnerabilities , such as data breaches and fraud . As a result , there is an ongoing effort to enhance security measures , including biometric authentication and advanced encryption technologies , to reassure users and safeguard transactions .
Mobile devices are increasingly targeted by malware , which can steal sensitive information like credit card numbers and passwords . Malware can be distributed through malicious links , email attachments or even apps from untrusted sources .
Norton reports that 50 % of banking malware targets Android users due to its open-source operating system . Businesses are also encouraged to implement mobile device management ( MDM ) solutions to detect and remove malicious applications .
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