In a speech earlier this year, Benito Lopez, a consultant at Ericsson said mobile banking and other financial transactions on mobile phones in Taiwan are at least a year away due to problems getting security systems in place that work with wireless technology.
Although the technology is already available in Scandinavia, Lopez explained that wireless electronic transactions over WAP are difficult to secure. The trick with wireless, and any electronic transaction, he said, is, "how to scramble the information so nobody can understand it and nobody can break it."
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