Balancing the Trade-Off Between Security and Convenience When Using Mobile Payment Systems

There’s no doubt that mobile payment systems are the future of retail transactions. Carrying around a pocket full of credit cards, ATM cards and debit cards (not to mention the plethora of store loyalty cards) is a pain. Credit cards are easily lost or stolen, their bulk adds up when stacked in a wallet, and they often leave your sight when making a transaction such as at a restaurant or when the point of sale (POS) device is behind the sales counter.

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How to Ensure Customer Service After Using Mobile Payment Systems

One of the most frustrating experiences we all encounter when making any kind of purchase is when there is a need to contact customer service. I hate calling customer service. It always seems like I have to explain myself several times to different representatives. Then I’m told about solutions — which were obvious to me to begin with and which I have already tried — that don’t work. I’m often treated as if I don’t know what I’m doing and the fact that I have a problem is a personal affront to the customer service representative (CSR).

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What to Consider Before Linking Your Finances to Mobile Payment Systems

Most mobile payment systems require that you link one or more of your existing financial accounts to the mobile payment system via a credit card, debit card, ATM card or even a direct link to your checking account. This allows the mobile payment system to apply the charges for purchases to your existing financial account immediately.

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SMiShing — Social Engineering Attack

SMiShing or SMS phishing is a social engineering attack that is occurring more and more frequently. This attack attempts to either steal identity details, credential information, or credit card specifics. It can also be used to trick you into agreeing to additional charges on your mobile phone bill. Generally the attack is waged by sending targets (i.e. you) a Web URL or a phone number along with a statement that expresses urgency to establish content or respond to the message.

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Smartphone Security Tips

Tablets and smart phones exploded into the workspace in 2012, and that trend is expected to continue. The ease of use and size make these smaller devices the preferred technology for many people. Unfortunately, approximately $7 million worth of smart phones go missing globally each day, according to Verizon. When these devices are misplaced, they become a security risk.

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