Security Takes a Back Seat at Prepaid Expo 2012

  • Security

This year the 2012 Prepaid Expo held its 7th annual conference in Las Vegas, Nevada. With over 100,000 attendees and over 100 exhibitors the amount of technology and knowledge ranged from mobile payment apps to banks in a box. After three days of exhibiting and presentations, the Prepaid Expo finally ended leaving its attendees more informed and excited for the technology to come. A large portion of this years expo revolved around the mobile payment sensation that has taken over the industry in the past year. While most consumers are seduced by the idea of having their financial information readily available, they rarely see the issues that it causes financial institutions behind the scenes.

While the glitz and glam of new technology was on the forefront, ID security and fraud prevention seemed to have taken a back seat. Companies such as CardCore who are excited to offer these new technologies need to remember the importance of ID authentication and how it works in tandem with these new products. CardCores new processing solution offers a third party ID verification interface to their card issuers to help ensure fraud prevention. While verification is very important, its also vital that it is not the only step being taken to prevent ID theft.

ID authentication is the next step that companies must take to help protect their clients in the mobile space. As mentioned in the Prepaid Expo blog, as these new opportunities in the mobile space emerge, there are many different factors to take into consideration before jumping on the industry bandwagon. One of those factors just so happens to be What will be the best authentication? As the experts also sayprivacy will lead to innovation. As for the future of mobile payments, make sure to fully understand the security measures needed to protect your consumers and your company.

[Contributed by, EVS Marketing]