Mobile Payment Risks Are Real, But They Can Be Managed

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Your company owes it to your customers to do what’s right. That means you must do what you can to manage mobile payment risks. In fact, there is always some risk when data transmission occurs. However, things like tokenization and encryption can significantly reduce this risk. What else should your company be concerned about?

Survey Highlights Vulnerabilities

A 2015 survey of experts in cybersecurity shows serious problems related to EMV mobile payments and in-store mobile payments. 47 percent of 900+ cybersecurity professionals said there are security issues with mobile payments.

The study from ISACA does not indicate any slowdown in the adoption or popularity of mobile payments for consumers, however.

Control What You Can

No doubt, that merchants can’t control most of the biggest threats to mobile payments. They include consumer data transmission using public wifi, stolen or lost devices, phishing, and similar attacks, weak passwords, and user error.

Tokenization and host card emulation are among the ways that merchants can play a role in securing mobile payments. With tokenization, a token, non-sensitive data element acts as a substitute for sensitive data elements.

The host card emulation or HCE technology allows storing transaction credentials and information in the cloud. This is the system that Android Pay and some other mobile payment services use for their mobile payment transactions.

To summarize, a feature-rich robust payment gateway built-in with mobile payment security is the most appropriate solution for every business. The UniPay payment gateway from United Thinkers is designed in the mobile age, so mobile payment security isn’t an afterthought. Contact us to learn more about the UniPay gateway and whether it could be right for you.

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Mobile Payment Risks Are Real, But They Can Be Managed
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Mobile Payment Risks Are Real, But They Can Be Managed
Description
Are you accepting mobile payments? Find out how you can reduce most of the mobile payment risks with UniPay Payment Management Platform.
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United Thinkers LLC
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Mobile Payment Risks Are Real, But They Can Be Managed обновлено: February 17, 2020 автором: Katherine Pensatori

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The choice of UniPay gateway is the choice of the reliable, time and industry tested payment solution, which can help your business to become more competitive and profitable.

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