"In the past few thousand years, the way we pay has changed just three times—from coins, to paper money, to plastic cards. Now we’re on the brink of the next big shift."
- Google
In 5 to 10 years physical money will cease to exist! You will no longer need to carry physical money around. The days are gone where someone pick pockets you, and leaves your wallet behind. Now when someone pick pockets you, they have all your data from your mobile phone... which includes, yes you guessed it, financial data. This new innovation makes it easier to transact business, and adversely makes it easier for vulnerabilities. Cyber criminals are just as ready for you to use the mobile wallet as you are... for different reasons obviously! There are some preventative measures you can take. For example, make sure to turn on the encryption, if your mobile phone has that option, and make sure the user has to authenticate any connections. When you save passwords, you want it to be convenient to access your phone; however, you are making it easier for people who want that convenient access too. There's a list of 10 things on Baseline Mag that you can refer to learn more about mobile security.
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