[2015-03-06] CS - Apple Pay Fraud Rates 60 Times More If Compared to Credit Card

[kaegmo]

In February, Cherian Abraham, a Richmond-based payments consultant for banks and retailers, posted an article regarding  Apple Pay fraud, saying that it “graduated from an itch to a raging infection” due to security flaws. Abraham also adds that it is “growing like a weed, and the bank is unable to tell friend from foe.”

http://www.coinspeaker.com/2015/03/06/apple-pay-fraud-rates-60-times-more-if-compared-to-credit-cards-7422/

[okthen]

"It uses a fingerprint reader to assure that the purchase is made by the phone’s owner."

Not too bad then, plus writing your credit data anywhere is always dangerous.

[Snipe85]

They wanted to be smarter and get their sheep, I mean clients, to use their own payment system instead of Bitcoin. Now we all can see how it's working out. 

[Undermood]

"It uses a fingerprint reader to assure that the purchase is made by the phone’s owner."

Not too bad then, plus writing your credit data anywhere is always dangerous.

you don't get the point! The scammers can set up his iPhone 's Apple Pay associated with stolen credit card due to the sloppy security authorization process. Never mind! The victims probably get refund by the bank! It is the beauty of using the bank! Our fund are ensured by the bank!

[polynesia]

Teething trouble.
It would be great for Bitcoin if they got people accustomed to paying bills with their mobiles.