When smartphones came into the market, they simplified matters when it comes to making purchases, payment for services or even downloading things. However, despite this much-appreciated development hackers and other malicious people have found ways to steal personal information and funds from unsuspecting smartphone users.
Mobile payments have therefore been made safer and more difficult for the hackers to get access to credit card details. This is because no actual financial information is transferred when the transaction happens. Instead, a coded version of the credit card information is what is used to authorize the payment.
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