Security concerns regarding the safety of mobile and online payments are to be expected
From small local businesses to global organisations such as Yahoo! and Google, companies of all shapes and sizes have been involved in some form of controversy when it comes to protecting and capturing data.
What’s more, with a number of public bodies such as government health departments also having been found guilty of taking an irresponsible approach to securely storing people’s confidential details online, there are plenty of examples of the potential for the vulnerabilities of the internet to leave sensitive files exposed.
So as consumers frequently hear stories of stolen passwords, leaked documents and hacked accounts, a Proxama.com spokesman explains that it’s natural for them to have security concerns when it comes to making mobile and online payments.
"Consumers are naturally going to have concerns about technology that they’re not familiar with in terms of security in an NFC (near field communication)," said Russell West, head of business development for mobile wallets at Proxama.com.
"You’re going to think, ‘if I lose my phone, does it mean the person who has my phone can now use my phone and make transactions to their heart’s content?’."
Given that mobile payments and other forms of ecommerce all appear to be on the rise, it seems that companies will still have to provide certain guarantees to their customers if they want to build a reliable and trusted reputation.
Indeed, businesses which lose, expose or compromise consumers’ information by failing to take the necessary data protection methods run the risk of losing clients as a result of their inability to safeguard their personal details.
Whether it’s with electronic document storage or increasing online security measures, there are a range of ways for businesses to improve the extent to which they protect people’s information, and ensuring these are effective will be key in calming any fears consumers have with online payments.