Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Monica Eaton-Cardone Comments on Mobile Payment Security Study Revealing Security Risks
  • USA - English


News provided by

JoTo PR

Oct 05, 2015, 14:20 ET

Share this article

Share toX

Share this article

Share toX

Monica Eaton-Cardone comments on mobile payment technology and the lack of its adoption among consumers.
Monica Eaton-Cardone comments on mobile payment technology and the lack of its adoption among consumers.

The perceived and actual risks associated with mobile payment technology is precisely the reason why adoption of mobile payment technology, such as Apple Pay, has been slow and stilted at best.

Post this

Tampa Bay, FL (PRWEB) October 05, 2015 -- According to the recently released 2015 Mobile Payment Security Study, out of more than 900 cybersecurity professionals surveyed, 47% of respondents revealed that mobile payments are not secure and carry significant perceived security risks. The study, which was conducted by global cybersecurity association ISACA, reported that 87% of those respondents predict there will be a large increase in the number of mobile payments data breaches over the next 12 months. (1) Monica Eaton-Cardone, COO of leading dispute mitigation and loss prevention firm Chargebacks911, says the perceived lack of security in mobile payments technology has had a negative impact on its adoption, pointing out that consumers are slow to use mobile payment technology such as Apple Pay or Google Wallet despite the convenience of it.

ISACA ranked the vulnerabilities associated with mobile payment based on the survey data:

  • At 26%, use of public WiFi was the highest ranked vulnerability;
  • Lost or stolen devices was the second highest ranked vulnerability at 21%,
  • With phishing and shmishing (phishing via text) at 18%, and
  • Weak passwords at 13%. (1)

There is a striking discrepancy between consumer interest in mobile payment technology and actual use of mobile payment technology. Tech Target reported that 57% of consumers were interested in mobile payment technologies; however, only 3% of mobile phone owners used their mobile wallets for in-store purchases in the past three months. (2)

“The perceived and actual risks associated with mobile payment technology is precisely the reason why adoption of mobile payment technology, such as Apple Pay, has been slow and stilted at best,” says Eaton-Cardone. “Consumers are slow to adopt the technology, and developers are slow to invest new technology due to perceived lack of interest. However, improvement in technology and security would improve the customer's willingness to use said technology. It becomes a Catch-22.”

According to Future Market Insights, the global mobile payment market is projected to be worth $2.8 trillion by 2020. (1) Because this opens the door for an increased security fraud, Eaton-Cardone urges the tech industry to create new technologies to protect consumers.

According to LexisNexis, Payment card fraud in the United States rose by 38% from $23 billion in losses in 2013 to $32 billion in losses in 2014. This loss from fraud is equivalent 0.68% of revenue. (3) Per Eaton-Cardone, EMV is the best option for fraud protection as EMV relies on the customer's past history to determine if the purchase is valid or not. By utilizing a micro-chip to store sensitive information, the customer's buying patterns and spending habits are analyzed in about a millisecond in order to detect suspicious activity. Eaton-Cardone says EMV will soon become the go-to for consumers and merchants alike.

Eaton-Cardone founded Chargebacks911 to address an unmet need in the credit card industry, and taught herself how to build the IT component required to support the business. Through her work in put processes in place for e-Merchants and the banking system regarding ethical practices and work out resolutions where there aren't any currently, Eaton-Cardone has seen first-hand that gender should not stop anyone from going after their dreams. As Eaton-Cardone is in the minority of women who holds an executive position in a technical field, she has been an advocate of long-term solutions for diversity in the tech industry.

About Monica Eaton-Cardone:

Monica Eaton-Cardone is an entrepreneur and business leader with expertise in technology, e-commerce, risk relativity and payment-processing solutions. She has co-founded a number of successful companies – including Chargebacks911.com, eConsumerServices.com and Global Risk Technologies – and currently fulfills executive management roles within each organization. Eaton-Cardone has earned a reputation for creative business solutions, helping merchants and banks to achieve sustainable payment-processing practices and supporting consumers in resolving transaction issues. She is a champion of women in IT, and hopes to contribute to an expanded presence of females in technical professions and leadership roles.

About Global Risk Technologies, Chargebacks911 and eConsumerServices:

Global Risk Technologies is best known for its role in payment processing solutions that cater to each side of the value chain: Chargebacks911 and eConsumerServices. The firm is headquartered in Tampa Bay, Florida, with offices in Ireland and Atlanta. They have approximately 350 employees worldwide, and currently manage over 150MM in transactions each month, with clients located in the U.S. and Europe.

Chargebacks911 focuses on chargeback mitigation and risk management for Internet merchants and acquiring banks, offering dispute response solutions and deep analytics. eConsumerServices caters to cardholders and consumers, providing an online mediation service that works to effectively and efficiently resolve transaction issues between merchants, consumers and banks. For more information, visit http://www.monicaec.com/.

(1) “Experts Cast Doubt on Mobile Payment Security”; Pymnts; September 28, 2015. pymnts.com/in-depth/2015/experts-cast-doubt-on-mobile-payment-security/
(2) Bonderud, Douglas. “Mobile Payment Technology: Secure or Subpar?”; Security Intelligence; April 3, 2015. securityintelligence.com/mobile-payment-technology-secure-or-subpar/
(3) “2014 LexisNexis True Cost of Fraud Study”; LexisNexis; August 2014. lexisnexis.com/risk/downloads/assets/true-cost-fraud-2014.pdf

Karla Jo Helms, JoTo PR, +1 (888) 202-4614 Ext: 802, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.