Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
PCI Security Standards Council Releases Guidelines for Mobile App Security
The PCI Security Standards Council (PCI SSC), a global, open industry standards body providing management of the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS), today provides clarity around what type of payment applications are eligible for PA-DSS validation and listing, including an update on the applicability of PA-DSS to mobile payment acceptance applications. A report from the company lists the types of mobile applications now measured by the security standards, and which applications require additional review. [Read more…]