Apple Pay is fairly secure, but cyber criminals have discovered they can use stolen credit card numbers and take advantage of the business process.
According to a new report by Cherian Abraham, “fraud [accounts] for about 6% of Apple Pay transactions.” Ironically, some of the fraudulent purchases using Apple Pay actually took place inside physical Apple stores.
Should consumers be concerned about the security of digital payments?
Listen to our latest security slice podcast and hear Tyler Reguly and Craig Young discuss why cyber criminals may prefer to use stolen credit cards in brick and motor stores, easy verification steps Apple and other digital payment vendors can take to improve the security of mobile transactions and how the delayed impacts of high-profile data breaches have changed credit card fraud.
CLICK HERE TO LISTEN TO THE PODCAST