CardNotPresent.com, antifraud technology provider Kount and payments consultancy The Fraud Practice yesterday announced the results of a survey of merchants and service providers describing their thoughts on mobile payments and their readiness to address fraud in the mobile channel. Overall, respondents believe mobile revenue will grow substantially, but projections about how much and how they are addressing fraud in the channel vary substantially.
The Mobile Fraud Survey found that even as early as next year, nearly a third of businesses predicted that up to 20 percent of their sales will come through the mobile channel. Smaller merchants expect more growth in the mobile channel and are almost as likely to have a mobile app for online shopping as merchants with annual revenues greater than $50 million.
The survey also looked at how merchants in various retail segments felt about mobile payments and fraud. Overall, jewelry, digital goods and gaming retailers expect the biggest growth in mobile sales.
“Clearly we’re still in the early phases of a mobile revolution, but this survey reinforces that every retailer believes in the potential and growth of this payment channel,” said Steven Casco, founder and publisher of CardNotPresent.com. “While the approach and adoption level may vary by a retailer’s size and industry, the Mobile Fraud Survey is a great barometer of what’s to come and how retailers need to prepare to operate in a rapidly changing card-not-present environment.”