Security Still a Concern for Mobile Payments

Security Still a Concern for Mobile Payments

September 25, 2015         Written By John H. Oldshue

The security of mobile payments remains a very big concern for cybersecurity experts.

ISACA, a global nonprofit information systems organization, surveyed over 900 cybersecurity experts about mobile payments. These experts are excited about the convenience of mobile payments, but there are still significant concerns about security.

In fact, only 23% of respondents said mobile payments are secure, and 87% predict there will be an increasing number of mobile-data payment breaches over the next 12 months.

Experts believe most of the security breaches will be due to:

  1. Using a payment-enabled device on public Wi-Fi (26%)
  2. A device being lost or stolen (21%)
  3. Phishing, or smishing (which is phishing using SMS) (18%)

However, even though these experts expressed concerns about security, they are still using mobile devices to shop. In fact, 42% of the professionals had made a purchase using a mobile payment platform.

Since it is obvious people want to use the technology, ISACA asked experts how security could be improved. The most significant suggestion is using multiple ways to authenticate identity on your mobile device (66%). Using a limited-duration code (18%) and phone-based security apps (9%) were also offered as possible solutions.

Since many kids are also mobile users, 73% of experts said children should be educated about mobile security before they are 13 years old.

ISACA concluded that mobile payment technology should be embraced, but IT professionals and users needed to educate themselves about, and take precautions against, security risks.

The information contained within this article was accurate as of September 25, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About John H. Oldshue

John Oldshue is the creator of He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for
View all posts by John H. Oldshue
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : Earn cash back TWICE. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus