AFP Conference Talk to Highlight Opportunities, Security Challenges of mPayments

AFP Conference Talk to Highlight Opportunities, Security Challenges of mPaymentsA trio of experts plan to promote the possibilities of mPayments at this year’s Annual AFP Conference. Organized by the Association of Financial Professionals, the conference is said to attract thousands of executives from the business and financial sector, and is a major venue for industry-wide discussion about relevant issues and trends related to finance.

The experts in question are AP Technology’s Richard Love and Greg Wilfahrt, IDC Financial Insights’ James Wester, and Mark Pearson of Sony Electronics. Together they’ll present a talk entitled “Mobile Payments: A Better Way to Pay”, which they say will highlight the rise of mPayments and show business leaders how they can take advantage of it.

In a press release announcing their talk, Love and Pearson highlighted the transformative power of mobile technology in the world of payments, with the former noting that mPayments “represent a highly secure, low-cost, ubiquitous means of transacting.” Wester, meanwhile, emphasized the importance of digital security measures, noting that the rise of EMV chip technology is pushing criminals to “shift their attention to online and on-device, card-not-present purchases.”

They’re all correct. Mobile payments do indeed appear to be on the rise, and while that’s good news for consumers and for adaptable merchants, it also brings a new set of security challenges. Fortunately, new technological solutions like biometric authentication are helping to assuage such concerns, and industry leaders are paying serious attention to the issue, with EyeVerify’s CEO having recently called for the creation of an industry-wide ‘Payment Grade’ security standard, along the lines of those established by the FIDO Alliance. This afternoon’s AFP talk should help to further increase awareness about the opportunities and hazards ahead.