Here is my ... "I said so" moment. I had mentioned in my earlier blog "Mobile Money Transfers" about the threats in this use of technology.
Now, Reuters reports that US customers are wary of mobile payments because of security concerns.
So then, it is essential that,
1. Put safeguards in place. The Govt. bodies need to do that (as mentioned earlier - both - Banking and Telecom)
2. Test rigorously.
3. Educate people on safeguards and on preventive measures they should take to avoid fraud.
Check this link: