“There’s a lot of mobile payment activity in various stages of adoption,” says Todd Ablowitz, who has worked for mobile payment providers and today is president of Double Diamond Group, a payments consulting firm whose specialties include mobile payments and security. “The serious players, like Visa, MasterCard, the card network operators, as well as AT&T, Verizon and T-Mobile—these organizations have researched the technology with a very careful eye on security because they know securing a payment system is paramount to its success.”

Ablowitz says the biggest challenge for mobile payments is not reality—the technology exists to conduct secure transactions via mobile devices—but perception. Because mobile payments are new, and because of the highly personal nature of mobile devices, some consumers are wary.

“The best thing any company can do is to embed security into its marketing message by saying, ‘This is more secure than anything you’ve ever seen,’” Ablowitz says.

Internet Retailer, August 25, 2010
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