Why is mobile payment the safest way to pay online?

Mopay is a world-renowned mobile payment technology company with nearly 3.3 billion customers in 80 countries, and Kolja Reiss is its general manager.

In the past, the preference for anonymous access has somewhat hampered demand for mobile phone payments. Now, as the problem of data and identity theft intensifies-and the recent Sony PSN Hacking event is an example-there is a growing outcry about the idea of being able to buy online anonymously without sensitive information.

E-commerce has been integrated into the daily life, become a $ tens of billions of worth of cash cow industry. The convenience of the online shopping way is incomparable. However, it also has a bad side. When you buy a product online, you must provide personal information, typically including your name, address and credit card or bank account information, in order to complete the transaction. There is no need to worry if only the business can access your information. But the internet has taught us a heavy lesson: as long as there is data exchange and storage, the third party can take advantage of it.

In order to prevent such problems, consumers need to be able to easily and quickly online payment without the need to provide too much important identity or property information to pay the way. The less personal information there is, the lower the risk of theft fraud. The cancellation of data links to personal information such as names, bank accounts, SSN codes and so on can eliminate the risk of identity theft and make it impossible for hackers to obtain data. But cash payments-this is the way the payment is normally made anonymously-cannot be applied to electronic transactions, and credit cards and bank transfers require a lot of information, and we need new ways to pay for them.

　　Convenience & Safety

Mobile payment only requires the purchaser to provide minimal information. It can complete a transaction with only the phone number provided by the consumer-without the need for name and address or other sensitive information. As a result, the risk of identity theft is greatly reduced. The transaction is completed by SMS and is displayed on the bill. In fact, mobile payments are a more efficient way of paying for small transactions (typically less than 10 dollars). If there is a more convenient way, no authentication and no credit card number, why should consumers provide personal information for a single small business? Even with risky shopping sites, mobile payments guarantee consumers the ability to shop safely.

Mobile phone information is not the target of hackers because the information cannot be obtained, the mobile payment service provider and its system are rarely the targets of hacker attacks. Hackers do not go to great lengths to invade databases that only have mobile numbers. Because mobile phone numbers are difficult to hook up with names, addresses, and bank accounts, it is classified as anonymous information. Even if a hacker wants to take a chance in such a database, he will soon realize that it is not as secure as other databases. Even if hackers invade, the risk of identity theft is still very small. Mobile payment service providers generally do not require users to provide too much information. The information they hold is only used for forwarding to the relevant telecom companies for further processing.

As a result, mobile payment minimizes the risk to all parties involved in the transaction. Today's consumers are increasingly focused on security issues. To avoid the risk of forced intrusion of data, mobile payment allows consumers to shop online more assured that businesses are also more financial resources rolling. Compared to credit cards and bank accounts, mobile phone numbers for most people are in the heart, do not need to check every time, avoid the lengthy transaction process.

　　Authorized approval

Finally, mobile payments require authorization for each transaction, which lowers the risk. Every time you pay by phone, you need to provide authorization--use this machine to confirm the transaction. Credit card transactions are easily exploited by hackers because they do not require actual swipe.

With more and more calls for safer trading, the E-commerce industry has found an effective solution. Compared to other online payment methods, mobile payment has the lowest identity theft risk because it does not need to correspond to the consumer's bank account. It is stone to provide more secure choices for online retailers and suppliers, and to give consumers enough confidence to prevent identity theft.

Via Mashable, Lei Feng Net compiles.