Reply to post: Re: ApplePay is very secure

Apple Pay a haven for 'rampant' credit card fraud, say experts

Mr.Mischief

Re: ApplePay is very secure

I dont get how Apple Pay is more secure than carrying your credit card in your pocket.

With my card, its a physical card, it has my signature, chip and a PIN number to verify that it is in fact me using a physical card.

With Apple Pay, the physical card is not present. It looks like all you need is a PHOTO of the card to load it into Apple Pay, and the SSN's last four digits.

To compare, that would be like me giving the card to a friend along with the PIN number and telling them to go buy something for me.

I'm sure all contactless payment systems may have the same problem, although it seems that Paypal and Google Wallet may not have had it to this extent. This could be either due to Google's registration process or through low usage. I dont know how rampant fraud was with GW.

I guess "ease of use" and "ease of fraud" go hand in hand

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