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According to Investopedia, a mobile wallet is a virtual wallet that stores payment card information on a mobile device. Mobile wallets are a convenient way for a user to make in-store payments and can be used at merchants listed with the mobile wallet service provider. Although convenient and innovative, there are security implications. In this activity, we will discuss these implications.
As you view the video and read the resources that follow, make note of these guiding questions:
Do you think mobile wallets are a safe means for monetary transactions? Why?
Explain how mobile wallets are vulnerable to theft?
What are some of the security practices to employ when using a mobile wallet?
Whether you own a mobile wallet or not, what are some of the common security safeguards?
How does malware try to access your mobile wallet?