SAN FRANCISCO—Despite the deployment of tokenization in mobile payments–widely considered to be very secure method to protect payments–consumers still fear using their mobile wallets, a new study shows.
Analysts have stated that a big reason mobile payments adoption is lagging behind expectations is due to consumers’ concerns over safety.
A new study released from Forrester and Visa reveals that 61% of respondents believe new payment technologies make them more open to potential fraud, and 68% were either concerned or very concerned about fraud potential in mobile banking bill payment options, Payment Week reported.