NuData Security is calling attention to the digital security threats emerging with the rise of mobile payments in a new blog post.
Citing a Cisco forecast, the company asserts that by 2020, 11.6 billion mobile devices will be online, and that growth tracks with mPayment adoption, with Forrester Research predicting that mPayments will total $90 billion by 2017. Accordingly, “we anticipate a sharp rise in the amount of mobile fraud,” the company says.
To cope with those threats, and to make sure that consumers don’t abandon mobile purchases due to onerous security requirements, many organizations are starting to take advantage of sophisticated authentication technologies like biometrics. For its part, NuData offers a behavioral analytics platform that adds an extra layer of security by tracking metrics ranging from a user’s IP address to how quickly she swipes her screen.
The company says its platform has been gaining in popularity, and given that the company is a sponsor of this year’s Money20/20 conference, it could pick up some further momentum as an appealing security solution for financial services organizations.
(Originally posted on FindBiometrics)