Resolving the Mobile App Payment Scam APAC CIO Outlook Magazine is to help people to fight against scams. Today scam is on the increase in every site Scammers are always searching for opportunities to fool people. This article will help you more about scams. Read these articles to know more about these common Mobile payment scams and how to spot and avoid them.
Today, the customer is now suitable for online payment for shopping than going to a store. Due to easy payment processing and attractive offers, most e-commerce sites and other payment methods have now shifted to online transactions. But on the other hand, hackers take this opportunity to make money from the customers by hacking their sites.
The payment industry has been stormed by mobile wallets, peer-to-peer transaction apps, and social media transactions. Banks can go beyond regular transactions by building on the trust relationship while enjoying their customers based on vital security. Integrating consumers' loyalty programs, enabling them to authorize sensitive payments securely, and sending secure notifications with strategic advice can be at the heart of customers' financial lives.
The annual Mobile Payments & Fraud Survey (MPFS) reported that famous payment processing organization like Apple Pay lost their consumers from 48 to 35 percent. Google Pay lost its users from 38 to 25 percent, making it the most decreased wallet than other mobile wallets. Low-security measures and susceptibility to scams are the main reasons users have lost