2400 E. Missouri Avenue
Phoenix, AZ 85016
Tuesday, October 5, 2010
THE STATE OF SECURE REMOTE DEBIT PAYMENTS
Over the last few quarters, consumers have shown an increased appetite for using debit products to pay for their purchases in both the physical and online spaces. Yet with the growth in online sales comes another less exciting set of statistics. In 2008, it is estimated that $4 billion was lost to online payment fraud— losses absorbed by merchants, consumers and financial institutions. These numbers beg the questions, which this panel will address:
- How secure are internet and mobile payments?
- Should consumers be concerned about using their debit products for online purchases?
- How can merchants decrease their losses associated with such payments?
- How will financial institutions benefit from making these payments more secure?