While many consumers have embraced mobile banking and been generally pleased with their experience, data also shows that some consumers still are reluctant to adopt new payment technology that could make their shopping experiences online and in the real world more convenient.

Experts have often cited consumer fears over the security of mobile wallet systems as the largest hurdle to widespread adoption of the technology, ahead of even the fact that the technology required to complete such a transaction is not widely available, according to . As a consequence, the companies developing these mobile purchasing platforms will likely need to do a bit of work to reassure consumers that their systems are secure.

However, others say that most consumers only trust traditional payments more than mobile ones because they’re more accustomed to them, and there will naturally be resistance to change, the report said. Nonetheless, traditional purchases are often viewed by experts as being fairly unsecure.

“It makes no sense to make the argument that because the 16-digit account number has been around longer that it’s better,” Ben Milne, CEO and co-founder of mobile payment provider Dwolla, told the news magazine. “In any event, probably what it means is the system has more problems. To me, if anything, it has probably more known ways of being exploited because it’s been around for so long.”

In fact, mobile payments are likely far more secure than traditional credit card swipes even in its infancy, the report said. The way data is encrypted on these systems makes it far more difficult to crack than the technology on the back of all , which has been around since the 1950s.

However, experts also say that consumers concerned about the security of their mobile wallet systems can add some protections on their end as well, such as password- or keycode-protecting their phone, and choosing payment verification methods that require two types of information to validate a transaction, the report said.

Mobile wallet technology will likely be adopted on a widespread basis within the next few years, as most analysts say it’s a matter of if, not when, consumers will accept the payment method as being legitimate and convenient. Some have projected that the industry could be worth tens of billions annually by just 2015.

Article originally posted on .

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