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Phone Hacking Obstructs Mobile Wallet Adoption in UK

A new consumer survey has found that phone hacking is the biggest obstacle that is stopping people from adopting mobile phone payments.

According to a survey conducted by Intersperience many Britons are not willing to use their mobile phones for making payments due to security concerns reports Slash Gear (opens in new tab).

The survey, which polled 1,000 Britons, found that only 17 percent of the consumers were willing to use their mobile devices for payments while 44 percent claimed that lack of security software prevented them from doing so.

The fear of mobile hacking has been strengthened, thanks to the recent mobile hacking scandals of celebrities. People claim that it is only a matter of time before hackers learn how to hack into a mobile phone and steal money.

The survey revealed that 24 percent of the people claim that they would not use technology out of intuition while another 24 percent are afraid that their mobile phones have a greater chance of being stolen than their wallets.

“There is no doubt that the phone hacking scandals have unnerved consumers. We also detected a marked rise in security concerns when people use devices with mobile internet access compared to fixed access via PCs. These beliefs will impact the pace at which UK consumers adopt mobile payment systems,” said Paul Hudson, CEO of Intersperience (opens in new tab).

Ravi Mandalia

Ravi Mandalla was ITProPortal's Sub Editor (and a contributing writer) for two years from 2011. Based in Ahmedabad, India, Ravi is now the owner and founder of Parity Media Pvt. Ltd., a news and media company, which specializes in online publishing, technology news and analysis, reviews, web site traffic growth, web site UI. Ravi lists his specialist subjects as: Enterprise, IT, Technology, Gadgets, Business, High Net Worth Individuals, Online Publishing, Advertising, Marketing, Social Media, News, Reviews, Audio, Video, and Multi-Media. He has also previously worked as Dy. Manager - IT Security at (n)Code Solutions.