The security concerns holding up mobile money adoption

25 October 2011 |


Carriers all over the world are working on their strategies for the mobile money market, with many now offering support for mobile operators active in the sector, particularly those serving consumers in emerging economies.

In more developed telecoms economies, there remain fundamental concerns among potential end user customers of money services, acting to some degree as a brake on further development of the market.

A prime concern remains mobile payment fraud, says Yankee Group. Its recent findings suggest that parties with an interest in the mobile money market, defined as mobile payment security stakeholders, are not expecting security threats to diminish over the next couple of years. On the contrary, a majority of those asked by Yankee Group expect the level of threat to rise substantially.