Potential security threats for mobile financial solutions with its possible solution
Electronic form of money has gained tremendous popularity among the common people and the corporates due to its convenience, speed, and ease.
With the increasing penetration of smartphones all around the world, we have also witnessed the rise mobile financial solution like mobile payment system or digital wallet solution.
People are quickly migrating from using cards to digital wallets for making payments at various places.
However, there are few skeptics who feel that digital wallet is not a safe mode of payment for both users as well as the service providers.
However, wallets like Google Pay, Venmo, and Samsung Pay serves as best examples of a safe and secure digital wallet used all around the world.
