One risk exclusive to payment apps is the possibility of the device or account getting breached by a malicious actor. The mobile or the platform account could be breached leaving you open for theft or unauthorised purchases. There is also a risk of the device becoming infected with a virus or credentials being stolen by a screen scraper or key logger.
In our opinion, the increased security payment apps bring to the table outweighs the risks. Mobile payment methods are like any system, you just need to take the right precautions to ensure you are as secure as possible and don’t take unnecessary risks that might jeopardise security.