Mobile Wallets and Emerging Fraud
By 2019, nearly 90 million mobile wallet users will be providing a valuable stream of interchange revenue and transaction data for wallet providers. Offering a mobile wallet is a competitive move that financial institutions and issuers simply cannot ignore. But attackers have interest in mobile wallets as well, and the mobile wallet is a key target for fraudsters attracted by the allure of credit cards and weaker fraud mitigation.
A clear path through the mobile wallet landscape has not been revealed for avoiding major fraud pitfalls. New approaches and technologies hold promise for a path forward - and none too soon - but what about risk mitigation in the meantime.
This session will explore some early challenges of managing mobile wallet fraud risk and how mobile wallet fraud will affect adoption, as well as factors that will influence the rate of mobile wallet fraud in the future and available technology and analytical approaches that hold the most promise for preventing mobile wallet fraud.
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