Finally mobile payment is starting to take off. Yet, for it to become a true success story, establishing trust is paramount. The question is, is software security the hero or villain of this story?
How safe is it?
Security and fraud prevention concerns are key drivers in the slow uptake of mobile payments. Can someone else use my smart phone to make purchases?
Identity verification and device based authentication are the cornerstones for any mobile payment transaction.
Many aspects of our lives are dependent on credentials such as logins, passwords or pin codes. As technology continues to be more IP driven and the world more connected, how safe are these credentials that we rely on so much?
You are the target
Credit card numbers have limited value – more information is needed to target you. As Bloomberg highlights, attacks on medical records are increasing because the data is richer. Identity theft requires accessing systems which have more information about you.