Mobile Banking and Payment Security - Apr 19

How safe is your mobile wallet?
"When you whip out your smartphone to transfer money, deposit a check, or “tap” it on an electric reader to buy milk at your local 7-Eleven, do you ever wonder how secure it is? The good news is, using your phone as a “mobile wallet” is largely considered safe. In fact, some experts argue the security of mobile payments is on par with online banking, with the added layer of password protection."

Atlanta Fed states mobile payments will be ‘safer than plastic cards’
"'The mobile phone will be a much more secure payment device than the plastic cards we use today.' That is the view of the assistant director of the Retail Payments Risk Forum, in a blog post published this week by the Federal Reserve Bank of Atlanta. In 'Dispelling the myths about mobile banking and payments', Cindy Merritt says the mobile phone should be seen as a normal method of payment, and one that should be encouraged thanks to its superior security features when compared with magnetic stripe cards."