As mobile payment technology continues to surface as a popular method for consumers, the million dollar question that could keep it in its infancy stage is whether or not it’s safe for consumers. Consumers Union came out with a recent report discussing the gap between mobile payment systems and the popular topic of consumer protection.

“As more Americans start using mobile phones to make purchases, we need to make sure that consumer protections keep pace with all the new technological advances,” Michelle Jun, senior attorney for Consumers Union’s Defend Your Dollars campaign said in a statement.  “Consumers shouldn’t have to worry that a lost or stolen mobile phone or billing error could turn into a costly financial headache.”

And nobody really has the answer to the question, not even the industry’s trade association.

A spokesman for ATT Wireless said the company would not comment on the report and suggested the answer ought to come from the industry’s trade association, the CTIA. The CTIA responded by saying an answer ought to come from the carriers. Sprint said it had nothing to say about it right now. Of the largest carriers, only Verizon Wireless had something to say. Verizon would not address the report specifically, but a spokesman did discuss the issue.