Increase Mobile Application Security to Avoid Fraud

  • Phone Verification

Cell phones are no longer just for talking and texting. Were headed toward a society that willingly wants to carry all of their information on one device rather than carrying multiple items like credit cards, coupons and loyalty cards. Mobile commerce technology continues to be rolled out to consumers for convenience and payments integration. So what happens when an account comes up short on money and the user wasnt the one who spent it? Mobile payments fraud is becoming a growing issue as more applications are created. Most consumers see this integration as convenient and easy-to-use but generally forget about the security aspects. Consumers are more than willing to share their confidential financial information in order to use these features for mobile transactions.

Whether you are creating a mobile app to encompass these features or a mobile-optimized web page, security needs to be top priority. These apps generally have the ability to access consumer information without that consumers knowledge. Information such as a phone number, device ID and location are easily captured from apps and HTML5 sites. This information is valuable and can be of use when trying to acquire new customers, increase loyalty and learn about customer buying habits. Its crucial to keep this information protected and out of the hands of fraudsters. You must build consumer trust and confidence while they are connected to you or your app. In order to maintain consumer confidence in this environment, it is the responsibility of the merchant to keep their information safe and secure.

Mobile transactions provide consumers with flexibility, convenience and value while offering merchants the ability to reach their customers, learn more about them and specifically measure the effectiveness of mobile marketing programs. When building mobile technology that has the ability to capture and store personally identifiable information, companies should take into consideration how security will be maintained. Through identity verification and authentication, merchants are able to confirm that a user is who they say they are prior to a transaction being approved. Verifying an identity will help keep your data secure and fraudsters out of your system.

 

[Contributed by EVS Marketing]