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Consumers question wireless payment security

January 4, 2013

Making payments via mobile device at a credit card terminal has become a popular method of purchasing for many consumers.

Making payments via mobile device at a credit card terminal has become a popular method of purchasing for many consumers. Simply waving a near field communications-enabled smartphone over a reader is fast, simple and nearly automatic. Consumers don’t have to wait for change, punch in a PIN number or write out checks.

However, there are a number of people who remain unsure about wireless options. According to The Guardian, radio-frequency identification payments are taking off in many areas, an alternative to NFC.

“This makes the process very fast and appealing for the user, but effectively bypasses well-established security steps,” Integralis senior security consultant Thomas Skora told The Guardian.

The newspaper noted that many of the fears that accompany wireless deployment are generally unfounded. Consult Hyperion director Dave Birch told the news outlet that mobile payment tools may actually end up being more secure than traditional offerings because of the inherent somewhat anonymous characteristics of mobile devices, as well as the scrutiny.

Wireless payment processing gateways are seen as convenient ways to purchase products using heavily embraced technology. Adopting new transaction tools helps small business owners avoid a messy tangle of wires, large electricity bills and can allow them to better connect with tech-savvy customers.

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