Study Says Merchants Doubting Mobile Commerce Security
Retailers doubt the security of mobile commerce in light of recent data breaches, according to an annual study by Kount. More than half of about 2,000 payments or fraud professionals polled by Kount said m-commerce is riskier than e-commerce on the Internet, up from 42.1 percent last year. Meanwhile, the segment of retailers who say the standard e-commerce fraud-fighting tools they use are sufficient for m-commerce fell from 37 percent last year to 25.5 percent this year. Meanwhile, 21 percent of retailers said more than one-fifth of their business came from the mobile channel this year, versus 10 percent in 2013. The Kount report also found that more than 75 percent of retailer respondents with more than $50 million in yearly sales support m-commerce and just 7 percent do not plan to do so. Forty-five percent of merchants with less than $5 million in annual sales actively support mobile today and another 38 percent plan to add it next year. The report said credit cards will be the chief payment tool for mobile shoppers, as indicated by 60.4 percent of respondents, while PayPal and debit cards will be the second and third most popular payment tools, respectively.
From “Data Thefts Raise Retailers’ Worries About Mobile Commerce”
Internet Retailer (03/13/14) Davis, Don