Security of mobile payments and digital wallets

The document titled ‘Secrutiy of Mobile Payments and Digital Wallets’ highlights that the use of a mobile to effect payment for goods and services represents a huge step towards digital payments. That said, mobile payments are still a very nascent industry without clear standards and significant industry self-regulation. In this context, mobile payments i.e. the use of mobile wallets also carries a certain degree of risk including mobile user threats as well as mobile device threats.