Emerging card payment channels have altered the business landscape in the Asia Pacific region. Industry estimates point to significant growth in worldwide mobile payments, with some reports claiming gross value of mobile transactions in Asia Pacific could grow over 90% by 2014.  A recent Gartner report estimated that a figure of 70 million people worldwide used mobile payments in 2009. This is further supported by KPMG’s recent annual Consumer and Convergence report which finds consumers expanding their use of mobile devices to visit online retail sites.

Many businesses in retail, travel, media and gaming have successfully transitioned into online marketplaces. Developing mobile technologies are also expected to contribute growth to these markets and increase the convenience of reaching online consumers.

With a growing number of businesses and consumers embracing mobile technology, issues around security and data protection of payment information is an important concern. Businesses should ensure they consider PCI guidelines to prevent mismanagement of customer information and potential fraud. With growth in technologies supporting mobile payments, a range of complications may arise, especially around how sensitive payment details are stored as they come in from various technologies.

The Payment Card Industry (PCI) standards issued by the PCI Security Standards Council are intended to help merchants reduce the risk of violations and potential legal liabilities. Merchants should implement precautions to reduce risk to protect themselves and their customers from unauthorized disclosure or use of sensitive cardholder data. 

Retailers running eCommerce sites should be aware that securely managing card information is important, and this includes setting up infrastructures to minimize the risk of card data breaches. Examples of industry technology to help mitigate these risks include stored card tokenization and hosted payment services.