Accept Mobile Payment, Prevent Mobile Fraud
Monica Eaton the COO of Chargebacks911 was featured in Total Retail discussing the evolutionary world of mobile payments. Currently, m-commerce is a hot topic within the payments industry, generating a great deal of excitement amongst merchants and consumers alike.
In the article, Monica explains how making payments has never been as easy, or as modern, but warns that the newness of mobile commerce makes it a prime target for fraud. She says it is important that merchants understand the threat that comes with m-commerce and stresses the importance of implementing safeguards against fraudulent activity.
Monica Eaton offers some very useful tips m-commerce merchants must consider to help prevent mobile fraud, such as employing 3D secure and implementing PIN usage.
“The freshness of mobile transactions has become both an asset and a pitfall. Mobile payments are on the rise. The ease of use and excitement of convenience allow for shoppers to feel differently about spending money. The ability to use an app on their cellphone that’s already in their hand makes making payments not only easy, but a new, modern experience as well. However, with the growth of mobile transactions comes the growth of mobile fraud, and the freshness of the platforms makes for less security than anywhere else.”
