Omlis Warns Mobile Payments Security Used by Most Financial Institutions is Subpar
As necessity and convenience remain key drivers for the increasing adoption of mobile payments, consumer trust in the security of their personal and financial data via the mobile channel will increasingly dictate brand loyalty.According to mobile payments security experts Omlis, financial institutions in Western Europe are taking huge risks by employing poor methods and relying on outdated banking infrastructures to secure sensitive consumer information for mobile transactions. Omlis argues that financial institutions must ensure that I.T. infrastructures and encryption methods employed are