Companies consistently ahead of cutting edge technologies such as Apple, Google and other mobile device manufacturers are advancing the payment applications of their phones. This is to be expected since Smartphones and iPhones are undoubtedly and predictably the wave of the future. It has kept the PCI Council on their toes as well, as data security on mobile devices has become a big concern.
The PCI SSC (Security Standards Council) that had once approved certain mobile applications as secure has now taken them off the list. Before re-release of these applications, they need to be sure that mobile applications also follow a comprehensive set of standards. Over the next several months we can expect new standards specific to mobile platforms emerge.
Cyber criminals probably are hard at work as well testing all points of vulnerability on mobile devices since these devices are likely to become virtual wallets and places for data storage. The main interest of the Council is to educate and help consumers safeguard their personal data. So, stay tuned for more on PCI security standards specific to mobile devices.