An Inside Security study found that fears regarding privacy and cybersecurity prevent 70 percent of surveyed shoppers from utilizing mobile payment systems like Apple Pay, EWeek reports. "To overcome concerns, banks and other issuers offering a proprietary payment app need to message security in their lead message,” said Inside Secure USA’s Executive Vice President Trevor Daughney. “They should also explain how they are handling their customers’ data, for example, are they keeping payment data separate from the other data on the mobile device, and are they storing it on the device?" Customer fears may not be unfounded, as “cybersecurity experts are on the hunt for a sophisticated payment theft scheme unlike any that has been used before,” The New York Times reports. (Registration may be required to access this story.)
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