Mobile Labs Corporation (MOBO): Protecting the Financial Transactions of America
Unfortunately, once again, the United States is number one in something that is not terribly positive. The United States sees more money lost to credit card fraud than the rest of the world combined. From statistic gathered from 2012, research firm BI Intelligence estimates the United States was responsible for 23.5% of all payment card volume globally, but had 47.3% of the payment card fraud. The biggest fault actually lies on the credit card industry which does not want to invest in new technologies to enhance protection against fraud as that will cut into profits. For example, magnetic stripe payment…