Aug 22, 2019 | Updated: 11:15 AM EDT

A Look At Mobile Payment Security

Apr 21, 2014 11:18 AM EDT

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Consumers today are adapting rapidly to Android mobile devices and mobile payments where organizations to deliver services which are safe and positive for users. It is important to bridge the gap and trust execution in an environment within a secure element. Practicing risk management can prevent vulnerabilities of emerging security threats and risks. The large number of data breaches still exists with little public knowledge.

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Educating the organization on how to identify retail schemes for the retailer may be the best tactic for identity theft, malware and other risks they can be prone to. Specific areas such as email phishing are on the rise. Enterprise retailers do a good job at educating consumers via their websites and providing an email to report any spoofs or risks detected.

The Android security risk can be quite costly if the organization is not well prepared. These type may be further at risk to private business information and data network attacks. Engaging outside partners can help to simplify complex systems security.

Restriction of access is critical. Time-outs for Android POS where machines automatically shut down should be commonplace. It's possible to emulate the security of an ATM on cash registers. Give the associate a swipe card, have her enter a PIN, and enter the transaction according to a menu. If there is not another immediate transaction, the machine shuts down. Database security is another issue.

A secure web interface allows the user privacy to manage and update content. Several customized frames could include an organization's consistent messages for branding which can be strategically positioned in different areas of the institution. As a result, value, revenues could be lost and customers upset across the board. Customer retention due to disaster recovery issues could best be managed by maintaining revenue at low cost and increasing customer lifetime value metrics.

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