A Risk Assessment Framework for Mobile Payments

Progress in Mobile Commerce is heavily dependent upon effective and reliable payment mechanisms. Security concerns loom as a major impediment to widespread and rapid adoption, and there is accordingly an urgent need for a framework within which security issues in mobile commerce can be evaluated. This paper draws on lessons from prior payment mechanisms in order to present such a framework. It provides insights into the use of the framework by performing a test application. Implications for policy, practice and research are drawn.