Mobile payment services: great distrust

In German-speaking countries, the topic of mobile payment is still in its infancy: Only a good four to five percent said they frequently use either Apple Pay, Google Pay or a special app. These are the results of a representative survey of 1,000 Internet users by IT security manufacturer Eset.

"Mobile payment is being offered as a payment option in more and more stores, such as supermarkets or DIY stores. However, as our survey shows, consumer trust in the new payment options is not particularly pronounced," explains Thomas Uhlemann, ESET Security Specialist. "One possible reason for the mistrust is certainly fake banking apps that make it into the big app stores time and again. In general, however, it has to be said that the new systems are sometimes even more secure than classic payment methods." When paying with Google or Apple Pay, no sensitive information such as the card number is transmitted, but only tokens that legitimize the transaction.

Activities of cyber criminals will increase

According to the expert, new providers will become more of a focus for cybercriminals in the medium term than has been the case in the past. "As their distribution grows, the new providers will also become more interesting for attackers." Banking malware was already one of the most popular malware programs on mobile operating systems in 2018, according to Eset security experts. The methods, especially of banking malware, could also be used to attack mobile payments, they said. Users should therefore already take measures to protect their smartphones.

Tips for secure payment with the smartphone

• Keep your smartphone up to date and use a reliable mobile security solution. The SecurityApp should detect malicious application and provide comprehensive protection against phishing.
• Avoid unofficial app stores. Cybercriminals try to get users onto their platforms with lock offers. This is where the risk of getting manipulated or even malicious apps on the device is greatest. If possible, permanently deactivate "Installation from unknown sources" on Android devices.
• Install a mobile security solution on your device. The app should offer comprehensive protection against all types of cyberattacks. Applications that also offer protection against phishing and include an anti-theft function in case of loss are recommended.
• An app from the Google Play Store should also be checked before installation. Take a look at reviews, user comments, number of installs, and required access rights.
• Only use banking and payment apps provided by your bank or financial services provider. A tip: Use the links on the official website. This will take you to the right app in the respective store.

The study with all results and further information is available on WeLiveSecurity.