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Tuesday, 21 May 2019

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30 July 2013

New study identifies massive risks facing mobile payments

Just when you thought mobile payments might be gaining some credibility, risk analysts at U.K. consultant Riskskill have released what can only be called a sobering assessment of the global mobile payment market.

Riskskill said the sheer scale of the opportunity in mobile payments could actually lead to larger problems. Consumer communication and information of risk associated with new financial services products could suffer due to the pace of change in the market, Riskskill said.

Additionally, the company said that the rapid evolution of technology threatens the applicability and implementation of many existing standards programs.

Organizations and many governments are often now too "silo based" to evolve direction and protection from the attacks in a market that is so rapidly evolving.