2014 was a banner year for emerging mobile technologies: Apple Pay made its debut and is now accepted at roughly 200,000 retail locations in the U.S.andGoogle Wallet continues to attract users with various promotions and offers.
However – as most merchants expect – with great opportunity comes great risk and mobile is no different. There are a variety of tools at your disposal to prevent mobile fraud and mitigate mobile risk. Regardless of the solutions you employ to boost mobile payment protection, you should start with the basics to keep consumers happy:
- Utilize identity verification – one of the greatest risks in mobile as viewed by merchants is identity theft, which can be mitigated by simple steps like device verification or digital fingerprinting
- Stay current – make sure your fraud prevention tools are active, updated and properly calibrated and make sure you are always compliant with regulatory requirements
Boost consumer confidence – if your site is secure, let people know by posting a secure logo or message