[ NNSquad ] Consumers Union warns of consumer risks in some mobile payment systems

[Lauren Weinstein <lauren@vortex.com>]

Consumers Union warns of consumer risks in some mobile payment systems

http://j.mp/r4zL98  (Consumers Union [PDF])

    "Recent news accounts make clear that the race is on to create the
     number one mobile payment product adopted and used by consumers
     in the U.S.  Mobile payment technologies are being touted as the
     most convenient and easy way for consumers to use their mobile
     phones to make purchases.  But in this mad dash among processors,
     financial institutions and other industry players to create
     successful mobile payment products, few have focused their
     efforts on assuring that consumers will be protected financially
     if something goes wrong with a mobile payment transaction.
     Consumers need consistent and guaranteed protections regardless
     of the payment method or product used.  Otherwise, consumers may
     be at risk of losing money if their mobile phone is lost or
     stolen, used to make unauthorized payments, or for other
     erroneous charges due to fraud or mistake."

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--Lauren--
Lauren Weinstein (lauren@vortex.com): http://www.vortex.com/lauren
Co-Founder: People For Internet Responsibility: http://www.pfir.org
Founder:
 - Network Neutrality Squad: http://www.nnsquad.org
 - Global Coalition for Transparent Internet Performance: http://www.gctip.org
 - PRIVACY Forum: http://www.vortex.com
Member: ACM Committee on Computers and Public Policy
Blog: http://lauren.vortex.com
Google+: http://vortex.com/g+lauren
Twitter: https://twitter.com/laurenweinstein 
Tel: +1 (818) 225-2800 / Skype: vortex.com