Businesses and consumers recognize the benefits of mobile payments, but worries over security are holding back adoption according to a new report. The study by Oxford Economics interviewed 2,000 consumers and 300 business executives and finds that 62 percent of consumers say mobile money enhances their buying experience, and 72 percent of executives say mobile payments can boost their sales. But despite this positive view traditional methods like cards and cash still dominate the payments landscape, with mobile accounting for under eight percent. The main factor holding back adoption is security. When asked what's stopping them from using mobile payments,… [Continue Reading]
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