DansDeals.com Forums

DansDeals Forum => Just Shmooze => Topic started by: insider on March 17, 2015, 10:50:31 AM

Title: Apple Pay Fraud
Post by: insider on March 17, 2015, 10:50:31 AM
http://www.nytimes.com/2015/03/17/business/banks-find-fraud-abounds-in-apple-pay.html?_r=0 (http://www.nytimes.com/2015/03/17/business/banks-find-fraud-abounds-in-apple-pay.html?_r=0)

"...the fraud rate at 6 percent, compared with a traditional credit card fraud rate that is relatively minuscule, 10 cents for every $100 spent.”

"Because Apple wanted its system to have the simplicity for which it has become famous and wanted to make the sign-up process “frictionless,” the company required little beyond basic credit card information about a user. Nor did it provide much information to the banks, like full phone numbers and addresses, that might help them detect fraud early."
Title: Re: Apple Pay Fraud
Post by: chucksterace on March 17, 2015, 10:57:24 AM
No need to create a new thread. Could have posted here - http://forums.dansdeals.com/index.php?topic=13937