As more mobile point of sale devices come into use, security and fraud experts caution that these tools carry their own set of data safety and payment fraud concerns, in addition to the challenges that all business face when accepting with card payments
Any merchant who uses mPOS or is considering it needs to be aware of what those risks are and how to reduce them.
One of the most obvious but overlooked risks with mobile point of sale systems is the risk of physical theft or loss.
Despite advances in anti-theft technology, smartphones are still an appealing target for thieves looking to resell them for a couple of hundred dollars apiece, even without the added temptation of access to a merchant payment account.