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March 6, 2017

Experts say don't fear your mobile wallet

  • While there's cause not to rely on it completely, security concerns shouldn't hold shoppers back.
    • By LAUREN SCHWAHN
    NerdWallet

    Smartphones have replaced lots of other accessories — cameras, flashlights, calculators. But many people are still reluctant to swap the wallets in their pockets for their digital counterparts.

    A key reason consumers are hesitant to adopt mobile payments like Apple Pay and Android Pay, surveys say, is fear over security: High-profile retailer data breaches have made buyers wary of sharing credit card information. But while there's cause not to rely 100 percent on your mobile wallet just yet — lack of widespread acceptance by merchants, for one thing — security concerns shouldn't be holding shoppers back, experts say.


     
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