The emerging U.S. mobile-payments market could be putting consumers at risk for fraud, and a consumer-advocacy group is urging wireless carriers to protect its customers from unauthorized transactions. Consumers Union, a Yonkers, N.Y.-based organization and publisher of Consumer Reports, highlighted in a report released June 15 how consumer protections vary for different mobile-payment methods. It also pointed to how wireless-carrier contracts fail to provide necessary safeguards in the event of a billing error or a phone becoming lost or stolen (see report). Mobile Pay or Mobile Mess: Closing the Gap Between Mobile Payment Systems and Consumer Protections
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