Mobile phones are more than another payment and shopping option according to an article in PYMNTS.com. Mobile phones can also make payments more secure. Their geolocation allows for position-based fraud analytics. Their cameras are used by Alibaba to ensure buyers are themselves with “selfie-validation” and Uber requires new users to take pictures of a card that must be in their possession.
Now biometrics, using secure payment processing software such as TouchID, are keeping mobile wallets secure. These tools and others could improve or replace vulnerable security measures like static passwords and lead to secure global payment processing.