Time to educate consumers about shopping via mobile
A recent report by Affinion International found that 60% of those surveyed believed they are at risk when using a mobile and more than a quarter rate shopping in such a way as being a high risk so it seems the time is right for some education.,
Those using mobile to shop are in a similar situation to the first days on the Internet and eCommerce but the transition from early adoption to regular user is likely to be quicker and smoother.
Consumers should follow some basic guidance and avoid storing card details on their phone in the event that it is stolen and also use a secure password to lock it. Without wishing to state the obvious, smartphones are just small computers and should be viewed with the same level of caution regarding security. It is surprising that many mobile users use public Wi-Fi, unaware of potential security risks.
There is also an onus on banks and acquirers to educate consumers about the risk. The glimmer of hope is the early adoption of mobile technologies by acquirers such as Barclays and their ‘Pingit’ service and the growing track record of eCommerce, which is gradually shedding its risky persona in the eyes of the more enlightened acquirers. They certainly won’t want to miss the boat for a second time!
So, it’s clear that demand is there for financial transactions to take place on mobiles but consumers need to remember that just because it’s simple doesn’t mean they can forget about the risk.