How Well Regulated Are Mobile Payment Processors?

How Well Regulated Are Mobile Payment ProcessorsAs more methods of paying for products and services via mobile devices are born, consumer privacy and protection continue to be a topic of discussion. In a recent post on Mobile Payments Today, the current consumer protection protocols were discussed.

The first time the group met to discuss mobile consumer protection, was in April of 2012. Since then, not much has changed when it comes to concerns of privacy, security, and access.

This is not to say that many mobile payment credit card readers are irresponsible—in fact it is quite the contrary. Just as with debt and credit card processing, mobile payment processors want to stay in business—so are happy to comply with regulations, as well as implement their own consumer protection protocols.

With the speed at which mobile payment processing is growing, it opens the door for ease of access to individuals in remote areas—and makes access to a wider range of products and services easier to achieve.