Fraud and Consumer Confidence in Emerging Payment Technologies

When submitting payment, consumers are concerned about security. The Target security breach in December 2013 sparked widespread consumer skepticism concerning stored credit card data. The breach led to doubt with regard to information integrity at retailers. It also led to fear about fraudulent attempts to steal personal data. Today’s consumer is unsure about security in a world with many emerging payment options including mobile technologies. The daily news is flush with data breaches and attempts to gather personal information from individuals. Both organizations and consumers are on high alert for signs of deceptive and fraudulent behavior. Phone scams, otherwise known as vishing, are common knowledge but can still pose serious risk to potential victims. More and more intimate details are being brought into fraud attempts.  As these attempts grow more complex and specific, consumers are more likely to make rash decisions leading to increased risk. According to BBC News, in…

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