Some 60 per cent of people who use a smartphone believe that their security could be compromised if they use it for an e-commerce transaction, according to Affinion International.
Around a quarter of people associated m-commerce with an increased risk of credit card fraud and identity theft, both of which have increased significantly in the last year according to fraud specialist CIFAS.
Interestingly, only 13 per cent felt that the same security fears surrounded online purchases when shopping on a desktop or laptop computer.
However, in spite of these concerns the m-commerce market is expected to grow even further this year.
The Center for Retail Research predicts that UK m-commerce will rise by a massive 53 per cent in 2012, accounting for £4.5 billion in revenue.
In this way, Britain is far ahead of its European neighbours, as the projected m-commerce spends for Germany and France are only £2.7 billion and £1.9 billion respectively.
Just two years ago, only £700 million was spent via mobile shopping in Britain, and if 2012′s estimates are reached it will represent a growth of 584 per cent.
Intelligent Environments calls on the financial services sector to improve the tablet banking experience to enable customers to better manage their finances, following its new research.
The financial technology company surveyed UK consumers into their perceptions of and preferences for various banking channels. The findings reveal that of all digital tools, computer or PC banking is still the most popular method with UK banking customers for checking their bank balance, while tablet banking is failing to take off.
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