Maintaining customer security has always been a focus of the payments industry, for merchants and customers. Being highly susceptible to theft, cash is the least secure. Cards have a little more security, but hackers have managed to invade the security systems of major retailers to steal customer information. Now, some are using scanners to get the information of contactless cards.
A major benefit of mobile payments is the promise of increased security. Despite concerns, smartphones provide a huge leap forward in identity security.
In our latest Breaking Banks podcast, I talk to Will Weisman from Singularity University about Exponential Finance, and exciting prospects from it. Plus, Dave Birch and Aaron Oliver talk about developments in card fraud and security, and Rocky Scopelliti joins the show to talk about the shift to mobile, and advancements in biometrics to increase trust for mobile payments.
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