Practical tips for secure mobile payment

The smartphone becomes a wallet. Mobile payment has gained new momentum worldwide. While consumers initially made little use of contactless payment via smartphone at the checkout of stationary stores, industry experts now expect a rapid increase. According to a recent study by the auditing and consulting firm PwC, the banking industry, for example, expects total sales of a good one billion euros in fee revenues for app operators by 2020. However, 100 percent security is a prerequisite for the success of the technology.To ensure that users of payment apps do not experience any unpleasant surprises after their purchase during the upcoming Christmas business or on the power shopping days of Black Friday (Nov. 28) and Cyber Monday (Dec. 1), they should consider the following 10 tips from Internet World Messe for more security in mobile payments:1.) Take care of your smartphone as if it were your wallet, because it now IS your wallet!2.) Secure your smartphone with a PIN that must always be entered even when unlocking it.3.) Only pay with your smartphone if the system can also give you a receipt.4.) Always wait to receive the receipt for a mobile payment.5.) Activate the remote wipe function for your smartphone. In the event of a loss, you can delete all of your phone's data through a website.6.) When paying with your smartphone, always keep an eye on your bank account or credit card account.7.) Always keep an eye on your mobile bill as well, because certain services are charged directly to it.8..) Never forgo security just because it's convenient.9.) If you're not familiar with a system, have it explained to you beforehand or don't use it.10.) Only carry out a transaction if you're also aware of the full costs.Internet World will take place on March 24/25, 2015 at the Munich trade fair center.