Security fears hamper mobile wallet growth

Martin Cloake
Mobile phone commerce
Mobile phone commerce

Nearly half of all UK mobile phone users will not use their phones as 'mobile wallets' because of security concerns, according to the latest research. Almost a quarter worry that their mobile phone is more likely to be stolen than their wallet and just 17% say they would like to use their mobile as a way of paying for goods and services in future. Consumers feel happier on 'fixed' devices rather than on mobile and wireless connections.