Fraud Protection for Mobile Payments:

Fraud Protection for Mobile Payments: Visa plans to launch a fraud-prevention service for mobile payments next year. Users will be able to use the same PIN from their banks to make payments on the Web and phones. However, it’ll differ markedly from MasterCard’s mobile plans, which will see cardholders get an SMS alert when there’s a suspicious or large transaction. Visa, MasterCard, and another 100 agencies are working through Mobile Payment Forum to develop secure m-commerce payment standards.

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