Mobile commerce may be compromised by phone security issues
In order for mobile commerce to be truly successful, consumers need to feel safe entering confidential data – such as their credit card and bank information – into their smartphones. However, this continues to be a key hindrance to the proliferation of the payment platform.
A recent survey conducted by NetQin Mobile found that 73 percent of Americans were aware of security threats to smartphones. As a result, they fear their phones could be an easy way for criminals to gain access to private information. More than three-quarters of respondents (78 percent) were concerned a criminal would end up with their stolen phones.
There are other issues as well, such as the ability of unwanted organizations or people monitoring consumer location.
"Consumers also were concerned that they might be tracked via their smartphones," Internet Retailer notes, citing the report. "Ninety-five percent of respondents believe at least one entity can track their locations, though there is a variety of opinions about who that entity is."
More than 91 million Americans own smartphone devices, according to comScore data, highlighting the potential mobile commerce audience.
