Enthusiastic but fearful of theft

Venture Beat: Of course, like anything new that’s introduced, there’s also concern. The IEEE Global Cybersecurity Survey completed in February found that 46 percent of the respondents are worried about losing personal data through an information hack of a mobile payment system. Thirty-three percent worry about unauthorized payments being processed by a mobile payment provider.However, the survey also indicated that 70 percent of the respondents believe that mobile payment security will be so solid that cash and credit cards will be rendered unnecessary by 2030, so they’re quite optimistic for the future.
Certainly, the high-level competition between digital wallet providers brings major benefits to consumers. More service providers means consumers have a larger number of options to choose from, but the competition also pushes all of the companies to work harder to provide better service and more lucrative incentives to customers.