Mobile Payments Need Better Privacy Safeguards, FTC Says

Law360, New York (April 26, 2012, 8:37 PM EDT) -- A Federal Trade Commission official on Thursday urged the mobile payments industry to ramp up efforts to enhance data security and privacy, rebutting suggestions from industry members that mobile payments are inherently more secure than traditional payment methods.

While the FTC is “very excited” by the development and promise of mobile payment systems, companies need to do a better job of protecting consumer information by following the principles of privacy by design, enhanced consumer choice and transparency articulated in the agency’s recent privacy report, FTC Division...
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