As of 2014, China is home to 649 million internet users with millions being added every month. Driven by high smartphone penetration and improving network coverage, more Chinese are using mobile payment services. The country’ annual m-payment turnover soared 134.30% year-on-year to reach US$3.61 trillion in 2014. However, the booming growth of this fledgling industry also brings security concerns. Here are some tricks often used by mobile payment hackers in China.
Fraudulent WiFi
Nowadays, Chinese internet users tend to make payments and bank transfers on-the-go, via public WiFi networks because it is just there and free. However, this habit could make you easy prey for hackers who set up fraudulent WiFi in shopping malls or entertainment centers.
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