Reply to post: Liability?

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

NBCanuck

Liability?

So who takes the dive on this one?

Apple? No, I think they have probably done a good job protecting themselves. Their system is not broken.

The Bank? Hopefully since it is their shoddy verification process that is causing the issue.

The Consumer? Hopefully not but possible. The poor guy gets the bill and when he claims fraud:

Cons.: "I didn't buy anything from XStore."

Bank: "Yes, sir....the charge is from XStore in XTown. You do live in XTown don't you?

Cons.: "Well, yes....but I don't shop there."

Bank: "I'm sorry sir, but that appears to be a valid charge."

Cons.: "That's not possible....I have my credit card right here."

Bank: "Indeed, sir. The transaction was authorized by ApplePay."

Cons.: "But I don't use ApplePay."

Bank: "We have your validated request to add your credit card to ApplePay.

Cons.: "But....but....I don't have an iPhone."

Bank: "Ooh...you should use ApplePay when you purchase one."

Cons.: "But....but....but...."

and SCENE.

Cons.: "That's not possible....I have my credit card right here."

But I didn't buy anything that cost that much."

But I didn't buy a new TV." the bank comes back and says it is is valid charge. Yep....transaction properly authorized Much worse if the fraud happens in the same local area where the consumer lives.

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