 22-Jan-18, Payment Week 

UnionPay has released a survey that helped quantify an anecdotal truth: mobile payments technology in China has been on the rise, and so too has mobile payments fraud.

Image: UnionPay

Studying 105,000 people, the survey found that 60 percent had been hit with some kind of security threat related to mobile payments. That included everything from information leaks to outright attacks on systems.

Almost 30 percent of those reporting fraud said that QR codes were involved in some way, and that’s up from just 15 percent the previous year.

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 Financial Services insights