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Consumers remain skeptical about mobile banking payment security

In a recent report by the Federal reserve, mobile banking increased by 7 percent from 2012 – 2011 ( 28% in 2012 and 21% in 2011). Most mobile banking customers use the service to review account balances, transactions, or transfers. The top mobile banking customers weighs in at only 10 percent of the US population, while the other 90 percent with mobile devices – 49 percent had used mobile banking within the prior year. The Fed report stated, “consumers remain skeptical of the potential benefits of mobile banking service, as well as the payment security associated with using the technology.”
Read the full report here.
 
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Verifi, an award-winning provider of end-to-end payment protection and management solutions, was founded in 2005 to help our clients effectively manage the payments challenges they face every day. Verifi helps merchants safely process paymentscombat fraud, prevent and resolve costly chargebacks, as well as increase billings andkeep loyal customers. Our best-in-breed solutions and white glove support are trusted by a wide range of industries from emerging companies to the Fortune 500. Headquartered in Los Angeles, California, we process more than $20 billion transactions annually and currently serve more than 8,900 accounts globally. For more information, visit:www.verifi.com.
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