CowboyRobot writes: "While many mobile payments startups are using both traditional and nontraditional authentication methods, regulatory uncertainty still exists around liability for fraud attacks on customers using mobile payments. Although there haven't been any public attacks from fraudsters on alternative mobile payments providers such as Square, LevelUp or Dwolla, anecdotal stories are already circulating among security experts and regulators of such attacks. One thing that still has to be worked out in this area is regulatory oversight. "The regulators are not yet clear who owns the regulatory oversight for these environments. These technologies tend to fall through the cracks even in terms of card-present or card-not-present.""