CNP Expo: Mobile Takes Center Stage
May 22, 2014
On the final day of the CNP Expo, CardNotPresent.com, along with partners Kount and the Fraud Practice, presented the results of the largest survey ever undertaken on fraud in the mobile channel. In its second year, the comprehensive survey polled more than 2,000 people and found some shifts in the attitudes of merchants toward mobile.
Last year, according to David Montague, president of the Fraud Practice, who presented the results on stage at Thursday morning’s keynote, merchants felt customer loyalty was the most important factor addressed by mobile. This year, however, it was all about conversion.
“It’s a big shift in how merchants are looking at the channel,” said Montague. “They’re saying ‘I need mobile to help me convert that sale at the moment customers are ready to buy.”
From a security standpoint, Montague said the most frequent thing merchants reported was that more consumer education is needed. Consumers are still unsure about the security of mobile payments. Merchants want the opportunity to convert sales on the spot using a device nearly every shopper has on their person, but if consumers are still uneasy about security, it won’t happen.