Pay with This, Not That! Accept This Payment, Not That!

Buyers’ adoption of mobile payment technologies has been slow due to Merchants’ adoption of mobile payment technology has lagged due to lack of
unfounded security fears—advances in technology make mobile more secure buyers’ use and misunderstandings about security and operational concerns—
than traditional payment card methods. mobile offers more security, convenience and business expansion opportunities

Vulnerabilities Business Advantages of Using Mobile Payment

of Popular Payment Technology vs. Traditional Card Payment Methods
Methods
Payme
nt
Verified

Common
Payment Risks
Physical Card
Payments
E-Commerce
Payments
Mobile
Payments
$

1 Less fraud, lower costs, more 2 Increased credit acceptance

Theft/loss/tampering streamlined operations, integrated improves sales, expands
of your card ! PROTECTED
record keeping. customer base and satisfaction.

Transaction spoofing ! PROTECTED

Stealing authentication/ “Hassle-free” and customized 4 Expanded choice provides

verification/magnetic data ! PROTECTED 3
loyalty programs at POS and data convenience for customers,
collection/analysis afterward. builds positive associations.

Transaction replay ! PROTECTED

$
Session/data stealing
! PROTECTED
Lack of access to customers’ Improved travel/expense
5 6
physical cards do not delay/ management for travelers
Stolen card info from website
! PROTECTED impact transactions. and enterprises.

In 2015, 23.2 million U.S. smartphones in use In 2014, global users of mobile payments numbered
performed mobile payments; by 2017 over 50 million. 44.5 million, expected to reach 1.09 billion by 2019.

© 2016 ISACA
SOURCE: Is Mobile the Winner in Payment Security? http://www.isaca.org/mobile-payments