Consumers concerned about mobile payment privacy, security


May 15, 2012

Concerns about security – and more notably, privacy – are making some consumers think twice about making mobile payments, according to recently-published research carried out at the University of California, Berkeley.In a survey of 1,200 American households, consumers were “overwhelmingly opposed” to having their contact information – including home address, email address and phone number – shared with a merchant when making a mobile payment.The survey results, according to the researchers, suggest that legislation may be needed to clarify which personal information can and cannot be shared by retailers – similar to the regulations that govern credit card payments.Mobile payments are one of the hot issues to watch in 2012, as identified by the PCI Security Standards Council (PCI SSC).

Earlier this year, PCI SSC chairman Mike Mitchell and general manager Bob Russo revealed that the council will issue some best-practice guidance for the industry on mobile payments later this year.All merchants that accept credit cards must be PCI DSS compliant – and it is important to be aware that specific compliance requirements can vary depending on the size of the business.

PCI DSS Compliance

 

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