UK consumers fear ‘contactless’ or ‘wave and pay’ mobile wallet hacking

Posted: November 17, 2011 in RFID shielding options
Tags: , , , , , , , , , , , , , , , , , , , , , , , , ,

In early November 2011, BBC News services reported that malware attacks on UK Android Apps, and smartphone fraud in general had risen by a staggering 800% since this time last year!!!!  Today we learn from The Telegraph newspaper that,

“…the majority of Britons are scared of ‘wave and pay’, [and with] only a small minority of people keen to use their mobiles like wallets. [Many] fear that ‘wave and pay’ apps will lead to greater security breaches”. 

Emma Barnett, Digital Media Editor for the Telegraph elaborated stating,

“…[the] Intersperience study, which polled 1,000 people as part of a larger project entitled ‘Digital Selves’, found that phone hacking fears are dominating consumers’ security concerns when thinking about adopting new mobile wallet payment systems.”

A spokesperson for Paypal recently intimated that mass adoption of contactless payments for products using mobile phones, or smart credit cards is at least three years away.  This is perhaps not surprising given that very few UK retailers offer this type of payment option to their customers.

Meanwhile, UK company RFID Protect has announced its intentions to offer a solution for smartphone users wary of this technology.  It comes in the shape of a simple App that will be launched mid 2012, and made available to download from www.rfidprotect.co.uk

So before too long, iPhone and Android users will have the option to disable their NFC (Near Field Communication) feature and in the words of a RFID Protect spokesperson, “MAKE YOURSELF INVISIBLE’ to would be phone hackers, e-pickpockets and e-payment skimmers.  Apparently, there’s a timer function too – so users get to determine the amount of time their phone can be read by third parties.

Read the full Telegraph article at:

http://www.telegraph.co.uk/technology/news/8825183/Majority-of-Britons-are-scared-of-wave-and-pay.html

First published on the: 14 October 2011

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Comments
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