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Consumers 'will worry about security' when making bank charges online

When consumers begin making credit card charges or bank claims through online payments, a specialist has said they will become worried about the security implications of these transactions.

Head of business development for mobile wallets at Russell West argued these concerns will "naturally" emerge when people begin using technology that they are unfamiliar with.

For example, when phones are used to incur bank charges, he pointed out that people may think if they lose their mobile, the person who finds it will be able to make transactions "to their hearts content".

However, the specialist said access to someone's bank details can be pin-protected on mobile devices, while currently, a criminal could simply "pick out a card with a 16 digit number and security code and make cardholder transactions really easily".

Education will be needed to encourage people to become confident using these tools, Mr West remarked.

He had previously predicted the future of the online transaction sector to consist of "a consolidation of mobile-enabled, secure payments".

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801417140-ADNFCR

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