{"id":4584,"date":"2013-09-24T19:15:00","date_gmt":"2013-09-24T19:15:00","guid":{"rendered":"https:\/\/evssolutions.com\/preventing-fraud-using-mobile-application-payments\/"},"modified":"2023-04-19T19:27:26","modified_gmt":"2023-04-19T19:27:26","slug":"preventing-fraud-using-mobile-application-payments","status":"publish","type":"post","link":"https:\/\/evssolutions.com\/insights\/preventing-fraud-using-mobile-application-payments\/","title":{"rendered":"Preventing Fraud Using Mobile Application Payments"},"content":{"rendered":"<p><span>Do you use a mobile wallet application? Would you use it for paying for<br \/>\ngas at the pump? If you said yes, youre not alone.<\/span><\/p>\n<p><span>Two gas stations in California are testing a <\/span><a href=\"http:\/\/www.mobilecommercedaily.com\/gas-chains-leverage-mobile-for-convenience-loyalty\"><span>mobile wallet system<\/span><\/a><span> with the hopes of<br \/>\nincreasing sales and customer retention. This mobile wallet application lets<br \/>\nconsumers pay for gas with their smartphones by using a QR code.<\/span><\/p>\n<p><span>The California-based company, Kuapay, created this mobile application<br \/>\nwith the goal of eliminating the fraud risk of credit card skimmers and<br \/>\nspeeding up the convenience store process with its secure point-of-sale<br \/>\ntechnology. <\/span><\/p>\n<p><span>Consumers are prompted by a QR code at the pump. They must download<br \/>\nthe application on their smartphone and connect a credit card to pay at the<br \/>\npump. Kuapay claims to be twice as fast as a debit or cash transaction.<\/span><\/p>\n<p><font face=\"Calibri\"><img decoding=\"async\" src=\"https:\/\/evssolutions.com\/wp-content\/uploads\/sites\/7\/Untitled3.png\" alt=\"mpw2\" title=\"mpw2\"><\/font><\/p>\n<p><a href=\"https:\/\/www.kuapay.com\/\"><span>Kuapay<\/span><\/a><span> also claims that they provide industry<br \/>\nleading protection and fraud detection in mobile payments. Users are required<br \/>\nto use a pin number to enter the application. To create an account users must<br \/>\nenter their full name, email address and create a password.<\/span><\/p>\n<p><span>The problem we see with this application is its lack of <\/span><a href=\"https:\/\/www.electronicverificationsystems.com\/products\/id-verification.aspx\"><span>identity verification<\/span><\/a><span>. Anyone can create an<br \/>\naccount and load a credit card without verifying they are indeed the true<br \/>\ncardholder. Being able to easily load credit card information into a <\/span><a href=\"https:\/\/www.electronicverificationsystems.com\/Resources\/Blog\/Oh-Shoot,-I-Lost-My-(Mobile)-Wallet.aspx\"><span>mobile wallet<\/span><\/a><span> is likely to be manipulated<br \/>\nwith stolen credit cards due to the lack of security and id authentication<br \/>\npresent at account creation. While this growing form of payment is moving into<br \/>\nretail shops and restaurants, the caution is in the authenticity of the credit<br \/>\ncard and payment being used.<\/span><\/p>\n<p><span>Overall, well have to wait and see if fraudsters decide to take<br \/>\nadvantage of this mobile wallet and <\/span><a href=\"https:\/\/www.electronicverificationsystems.com\/Resources\/Blog\/Mobile-Payments--The-Good,-The-Bad,-The-Security.aspx\"><span>mobile payment<br \/>\ntechnology<\/span><\/a><span> or not. If they do, mobile wallet application companies will need to<br \/>\nadd more layers of security to <\/span><a href=\"https:\/\/www.electronicverificationsystems.com\/solutions\/\"><span>prevent fraud<\/span><\/a><span> and enhance <\/span><a href=\"https:\/\/www.electronicverificationsystems.com\/Resources\/Press-Room\/Electronic-Verification-Systems-(EVS)-Launches-Mobile-Payment-Identity-Verification-Solution.aspx\"><span>identity verification<br \/>\nand authentication<\/span><\/a><span> within their apps. <\/span><\/p>\n<p><span><\/span><\/p>\n<p><span>[Contributed by EVS Marketing]<\/span><\/p>\n<p><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you use a mobile wallet application? Would you use it for paying for gas at the pump? If you said yes, youre not alone. Two gas stations in California are testing a mobile wallet system with the hopes of<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4584"}],"collection":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/comments?post=4584"}],"version-history":[{"count":0,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4584\/revisions"}],"wp:attachment":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/media?parent=4584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/categories?post=4584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/tags?post=4584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}