Security concerns hold back mobile banking adoption
More than two-thirds of smartphone owners have not yet adopted mobile banking apps because of security concerns, a survey has revealed.
By contrast, only 14% of those surveyed by security firm Metaforic said that security concerns were preventing them from using PC-based online banking.
Some 19% of respondents indicated that they had personally suffered a mobile security breach or knew someone who had. Concerns about mobile banking are further supported by a second-quarter report by security firm McAfee that said following a first-quarter mobile malware explosion, Google Android OS malware shows no signs of slowing down.
