Author Topic: Apple Pay Fraud  (Read 325 times)

Offline insider

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Apple Pay Fraud
« 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

"...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."

Offline chucksterace

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Re: Apple Pay Fraud
« Reply #1 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
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