The more we get into this mobile thing, the more it becomes apparent that security is by far the top concern among consumers looking into transacting through their mobile phone. This fear most likely stems because the average consumer doesn't fully understand the ramifications of their electronic lives- the actions that they take every day to do simple things like using their credit card. The simple truth is, technology sophistication has outpaced the average consumer's knowledge of technology- leaving a lot of people (particularly in the pre-Gen X generation) slightly nervous about all that happens in the ether. Predatory "digital criminals" or "cyber criminals" have been making the news a lot recently, unsurprisingly leaving your average Joe thinking twice before he switches all of his banking transactions to the mobile channel.
Even in the news recently, we keep seeing sensational news stories of scammers running off with millions-MILLIONS!- of dollars. Even the big guys aren't immune, Conde Nast for example, was recently taken for $8 million after they essentially signed over control of payments to a scammer who was armed with some well-placed bits of information and the cover of being part of a company that Conde Nast frequently worked with. Combine the news propaganda with the public feuds that are happening between the likes of Verifone and Square and you get a weird story- mobile is the future, but it's so insecure it would be insane to use it!
Wired Magazine featured a whole issue around the "underworld"- one of the interesting articles they featured was about a Romanian town where the majority of income was from cyber crime. They followed it up with an overview on Crimeware Apps that cost anywhere from nothing to $7K. Undoubtedly, security will be a critical factor for a mobile future, but we will also need the news to encourage the evolution by focusing on the convenience and opportunities- not just focus on the pitfalls.
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