Category: Mobile Commerce

While safety and privacy concerns are still high among smartphone users, they continue to take unnecessary chances.

Smartphones are being used for a growing number of tasks every day, from placing phone calls and sending and receiving texts, to communicating thorough email, making product purchases, banking, and a broad range of other activities that require a high level of mobile security.

Many of these device users are very conscious of risks, and yet their behaviors increase their chances of data theft.

The amount of sensitive data that is being stored on smartphones is incredible. It not only includes login information for email and social network accounts, but it also involves proof of insurance cards, credit and debit card numbers, identification numbers, and an entire directory of contact information for virtually everyone we know. But at the same time, many of us fail to make the right mobile security choices to ensure that this information stays out of the hands of others.

Mobile security efforts are not nearly as strong among consumers as the steps taken on PCs.

Many consumers are unaware of the fact that their devices could be hacked or become infected with a virus. Moreover, few have taken the steps required to stop this data from being used by someone who has stolen the device.

ABC News recently reported that there are ten foolish behaviors that many people either do or fail to do in the use of their mobile devices. They included the following:

• A lack of password protection for their phone in general and for individual apps and accounts.
• Failing to purge old smartphone data before disposing of the device.
• Making purchases through a smartphone browser instead of through a commerce application.
• Failing to log out of banking and payments apps.
• Connecting automatically to any WiFi connection that is available.
• Leaving the Bluetooth connection open while not in use.
• Storing highly sensitive data on smartphones, such as Social Security numbers, PINs, and bank or credit card account information, which require far more mobile security than the device is capable of providing.

Mobile banking reaching new heights

Mobile banking is taking hold in Australia. The Market Intelligence Strategy Center, a financial services consultancy, has released new information concerning the state of mobile banking and mobile commerce within the country. More consumers are finding it easier to manage their finances through their mobile devices. This includes paying for products, managing investments, and accessing their bank accounts. These are all aspects of mobile commerce, a phenomenon that is growing in popularity around the world.

Analysis shows mobile banking reaches 6 million users

According to the Market Intelligence Strategy Center, mobile banking in Australia has exceeded 6 million users. The firm notes that it took nearly four years for Internet banking to reach the same milestone, but mobile banking has reached it in just over three. This data is based off of figures released by the Australian Communications and Media Authority, which notes that the adult population using smart phones is at 8.7 million strong throughout the country.

Banks begin embracing mobile consumers

The nation’s banks have been embracing mobile technology aggressively. Over the past year, nearly all Australian banks have made changes to their services in order to be more accommodating of mobile consumers. Many of these banks have seen the majority of their traffic come from Android devices, with iOS devices coming close behind. These banks have also found the mobile technology is a great way to sell products to consumers, as they enjoy a nearly constant connection with customers through a variety of mobile banking applications.

Focus on mobile may be good for banks

Mobile banking is expected to become more popular as mobile Internet speeds increase. 4G connections are becoming more common, but have yet to become universally available to all consumers. As Internet speeds increase, consumers are more likely to increase their reliance on the mobile devices they have come to love. This may be good news for Australia’s banks, as well as the country’s various mobile commerce initiatives that are working to attract the interest of mobile consumers.