Just as the European Union is ready to unveil mobile payment technology, phone operators and customers are having second thoughts about the product. Mobile payments are drawing concerns from both parties, according to Euractiv.com. Consumers are worried about who will be tracking their purchasing history the level buying history privacy that will be exposed, while phone operators are thinking about how the mobile payment system could generate revenue.
According to Inge Flatraaker, a Norwegian official involved in negotiations to release m-payments, a French trial of the product yielded some response to the use of m-payments on public transport, but little success in shops.
The security measures are also being negotiated. Consideration has been given to the fact that with m payments, a stolen phone could be used for purchase without anyone noticing. As of now, the European Payments Council, the architects of SEPA, and the GSMA are still in the process of writing the security requirements for m-payments.
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