Convenience and Safety
Mobile payments require buyers to provide the minimum amount of data. Mobile payments are based on providing consumers with a telephone number to complete a transaction - no need to give a name, address or other sensitive data. Hence, removing most of the risks associated with identity theft. Transactions are carried out via text message and appear on the consumer's telephone bill.
In fact, mobile payments are a method even more effective when it comes to microtransactions (small loads, typically less than $ 10). Why consumers the risk of compromising personal data for a small operation, if there is a more convenient way to pay that does not require identifying information and credit card numbers? Mobile payments that consumers can buy with confidence even in sites where security can be a cause for concern.
Mobile data is not attractive to hackers
Due to the lack of exploitable data, mobile service providers and payment systems are rarely targeted by hackers. Hackers do not bother trying to break open databases provide only mobile phone numbers. phone number is found essentially anonymous data as it is much harder to connect a number to a name, address and even bank account.
Even if a hacker decides to try his luck in a database, he or she will realize that they are so well kept as any other database. If a hacker to access the risk of identity theft continues to be marginal. Mobile payments providers simply do not have the data of both consumers. And the little information we have is transmitted to the respective companies for further processing. Therefore mobile payments represent the lowest risk of security for all parties.
Consumers pay much more attention to security features in those days. By eliminating most of the risk associated with a security breach, consumers are more confident in buying products online via mobile. This results finally in sales figures over the merchants. Most people know their phone numbers from memory instead of your credit card or bank account numbers, which have to be consulted every time and went into a long procurement process.
Authorization
Finally, mobile payments help reduce the risk by requiring authorization for each transaction. Each time you make a mobile payment, must submit an authorization - access to the phone itself to confirm the purchase. Shopping through credit cards can be done easily by hackers, but they do not possess the physical card.