Tag: mobile commerce security

Mobile commerce is becoming more important for retailers

Emerging opportunities push retailers to become more mobile-centric

New opportunities are emerging for retailers in the mobile space, which is leading to them upgrading their mobile applications and websites in order to effectively engage consumers, according to a new report from Boston Retail Partners. The report shows that mobile commerce has become quite profitable for retailers, but in order to find continued success in this space, they must address issues concerning security and consumer privacy. This is becoming especially important as fraud is growing more prevalent in the e-commerce and mobile commerce spaces.

Report highlights the need for retailers to upgrade their mobile websites and apps

The report shows that mobile websites are becoming an important priority for retailers. These websites allow retailers to better engage mobile consumers, and Google has recently required businesses to ensure that they have mobile sites in order to retain their search rankings. Mobile apps are also a priority for retailers, as they allow consumers to efficiently shop online. For physical retailers, these apps are especially important, as they will allow merchants to effectively engage consumers that are interested in mobile commerce.

Security is becoming a top priority as EMV standards spread throughout the world

mobile commerce important for retailersAs mobile commerce grows, retailers will have to address issues concerning security and privacy. The report shows that as EMV standards are imposed in counties, in-store fraud falls dramatically. The problem, however, is that the introduction of these standards causes the online fraud to skyrocket. With many retailers embracing these standards, they are finding it more important to improve their security measures, especially if they want to compete in the mobile commerce market aggressively.

Retailers are beginning to see the challenges associated with bringing their various channels together alongside mobile

With mobile commerce becoming more important, retailers are finding it more challenging to integrate all of their channels. Retailers must provide consumers with seamless experiences in order to provide them with effective services, but this has proven quite challenging for some businesses, especially if they do not have extensive experience with the mobile and digital spaces.

Congress is looking into mobile payments security

House Energy & Commerce Committee is looking into concerns regarding mobile payments security

Mobile payments will reach a new high this year in the United States, powering by the growing adoption of new payment services that allow consumers to shop online more conveniently. According to recent reports from CNET and Juniper Research, some two-thirds of adults in the country now own a smartphone, with approximately 36 million people expected to make a mobile transaction this year. This information was presented to a hearing of the House Energy & Commerce Committee, which has been expressing concerns regarding mobile payments fraud.

Security continues to be a significant problem in the mobile space

Security in the mobile payments field has been a point of concern for federal officials for some time. Many consumers have become the victims of fraud in the past, following high-profile data breaches that targeted some of the country’s largest retailers. The hearing found that while most mobile payments solutions are, indeed, quite secure, they do not have the same legal and legislative protections that more conventional payment solutions enjoy.

Committee will not yet be taking legislative action on mobile security

mobile payments and securityThe House Energy & Commerce Committee has noted that the hearing was a preliminary hearing concerning mobile payments security. The committee has not yet announced plans concerning what can be done to improve security. As such, there will be no legislative action taken on issues regarding security for the time being. The committee is seeking more information from stakeholders in the mobile payments space. This information could be used to improve the overall mobile payments space, ensuring that consumer information is well protected in the future.

Ensuring the security of consumer information remains a top priority in the mobile space

The mobile payments space is still relatively new. While many of the organizations participating in this space have extensive experience regarding commerce, they are finding the mobile space to be exposed to significant risks that they are still attempting to adapt to. More regulatory oversight may be needed to ensure consumer protection, but the federal government must collect more data before taking any significant legislative action on the matter.