Mobile commerce may suffer trust issues in the future

Study highlights concerns consumers have in mobile commerce and elsewhere

MEF, a global community focused on improving mobile commerce, has released a new study concerning online privacy. Over the past few years, privacy has become a major concern for consumers all over the world. With companies, social networks, and even mobile applications, sharing people’s personal information with advertisers, many consumers have become weary of sharing any personal data through applications, especially those concerning mobile commerce. The MEF study highlights some of the concerns that consumers have regarding how their information is used.

Consumers show concern in what information is being collected from them through applications

According to the study, which is called the Global Privacy Report, approximately 37% of consumers are comfortable with sharing their personal information with a mobile application. The study draws upon information collected from ten countries, all of which have strong representation in the mobile space. MEF analysts suggest that many consumers are disinterested in sharing their information with applications because of concerns over security and how this information is being used.

How information is being used is a top issue among consumers

The study shows that 70% of consumers believe it is important to know how their information is being used, and what kind of information is being gathered through mobile applications. Mobile commerce applications, in particular, are of high concern to consumers because of the their use of financial information. While this information is not traded, other personal information is often made available to advertisers and many consumers have expressed concerns that the availability of this information makes it a target for hackers and other malicious parties.

Mobile commerce may suffer from gaps in mobile security

While consumers show a strong concern with how their information is being used and what information mobile applications are collecting, only 18% of consumers lack confidence in the security of their information. The study suggests that there are significant gaps in the realm of mobile security, however, especially when it comes to mobile commerce. If these gaps are continually exploited, the trust that consumers have in their mobile security may wane significantly.