Mobile Payments & Fraud Survey 2014
Our sister company, Kount, just issued a really insightful mobile payments and fraud survey. Some interesting findings and the download is here Download MobilePmts&FraudSurvey_2014_v4:
• The mobile channel is growing in importance and revenue. Comparing this year’s findings to those from last year, we see that more organizations are actively supporting the mobile channel, mobile has become more important to organizations’ growth plans and the mobile channel represents a higher portion of an organization’s total business.
• Organizations are more likely to view the mobile channel as riskier than last year and more Merchants are coming to the conclusion that the mobile channel requires specialized tools.
• While organizations still consider difficulty of mobile transactions as the biggest obstacle to mobile adoption, they are also more likely to consider consumer security concerns or their ability to manage fraud risk as significant obstacles.
• Support for the mobile channel has grown for both online and in-store mobile implementations. Some of the most remarkable growth from last year to this year is in the portion of Merchants that support mobile apps, mobile websites and mobile payments. The share of Merchants that offer a mobile app for online shopping more than doubled from 21% to 54%, while nearly half of Merchants now offer a dedicated mobile website. The growth in support for the mobile channel with respect to brick-and-mortar is even more noteworthy. The number of Merchants that support mobile payments at the point-of-sale nearly doubled from 15% last year to 29% this year, while the percentage of Merchants that
offer mobile apps for in-store shopping more than quadrupled.
• Organizations put a greater emphasis on the importance of being able to detect when online transactions come from a mobile device, but the number of Merchants that are actually able to do this increased by only five percentage points. Larger Merchants are much more likely to have this capability than smaller Merchants.