Mobile Payments Could Leave Consumers at Risk

The folks behind Consumers Reports are calling on regulators to require mobile payment operators to put stronger consumer protections in place.

Recent news stories have highlighted how consumers in the U.S. soon will be able to pay for products and services with a wave of their smart phones. But while mobile payment technologies may offer a convenient new way to pay for goods and services, consumers could be at risk of losing money when mistakes are made by merchants and processors or as a result of fraud, according to Consumers Union, the nonprofit publisher of Consumer Reports.

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