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Mobile commerce may be dangerous during the holidays

 

mobile commerce holiday shoppingHoliday shopping season highlights dangers of mobile commerce

The holiday season has only just begun, but mobile commerce is already experiencing major success. Consumers are flocking to the concept of using their mobile devices to make purchases and shop for products. Indeed, mobile commerce had a powerful showing on Thanksgiving day and Black Friday, accounting for billions worth of sales. Though consumers have shown major interest in mobile commerce, they may be making some simple mistakes that could be putting their financial information at risk.

Consumers warned to be cautious in December

Connecticut’s Department of Consumer Protection notes that more consumers are making use of their mobile devices to make holiday shopping more convenient. These consumers could be at risk of falling victim to scams and hacking attempts, if they are not careful. The agency has issued a warning to holiday shoppers to be careful during December in an effort to ensure consumers take adequate steps to protect themselves.

Scams can easily take advantage of unaware consumers

The agency suggests that a growing number of mobile e-commerce scams could be putting consumers at risk of exploitation. Such scams are relatively common during the holiday season, but e-commerce and mobile commerce platforms are ideal disguises for such fraudulent activities. The Department of Consumer Protection suggests that it can be easy for some consumers to miss the signs of a scam during the holiday season because they are distracted. Moreover, malicious mobile sites could house malware that can infect a mobile device and leave a consumer’s financial information exposed.

Mobile apps could help protect devices from attacks

The growing popularity of mobile commerce may raise awareness of the security precautions that consumers can take to protect themselves. There are several anti-virus and anti-malware applications available for both Android and iOS platforms that can protect a device from malicious attacks. These applications do not mitigate scams, however, so consumers are advised to pay close attention to the mobile commerce and e-commerce platforms they choose to use during the holiday season.

Mobile commerce gaining ground in China

 

China sees promising growth in mobile commerce

Mobile commerce is on the rise in ChinMobile Commerce Chinaa, according to a new report from Infiniti Research, a market research firm. More consumers are showing interest in mobile commerce as smart phones and tablets become more commonplace. These consumers are finding that paying for products, shopping, and even banking are more convenient using their mobile device than other methods. As such, mobile commerce has begun experiencing a swell of support from these consumers, sparking investment activity from the companies that aim to see financial gain from the growing phenomenon.

Report highlights the contributing factors to market growth

The report from Infiniti Research suggests that China’s mobile commerce sector will experience a compound annual growth rate of 41% from 2011 to 2015. The accelerating adoption of mobile devices is cited as one of the most significant factors to market growth. Growing demand for digital goods, such as catalogs, e-books, music, etc., is also contributing to the growing momentum behind mobile commerce. There is, however, a major concern that may derail some of the growth that mobile commerce is experiencing currently.

Consumers still concerned for their security

The report shows that consumers are becoming increasingly concerned for the security of their financial information. As more people participate in mobile commerce, it is becoming apparent that this sector could be an ideal target for hackers and other malicious parties that want to exploit the financial information of consumers. Many of the concerns regarding mobile commerce revolve around the use of NFC technology. This technology has, in the past, been targeted by hackers as an easy way to attain access to a consumer’s financial information.

Mobile commerce expanding throughout Asia

Despite issues regarding security, mobile commerce is expected to continue growing in popularity amongst Chinese consumers. The concept has also been receiving growing support throughout the rest of the Asian market, where mobile devices are becoming more common. Asia is quickly establishing itself as the mobile commerce hub of the world.