Mobile Payments Fraud Becomes Painful

The mobile channel can facilitate nearly any type of consumer payment, often with greater convenience than before. This has attracted a growing legion of dedicated users, yet wherever legitimate payments begin to flourish fraud is soon to follow — and mobile payments are no exception. With criminals’ aptitude for digital-oriented fraud rising and pressure in other channels forcing them to find new targets, mobile payments will experience a rise in fraud that most stakeholders are simply unprepared for.