Apple Pay security called out after spike in fraud-related issues

Apple Pay is extremely easy to use, but security researchers wonder if that is a bad thing.

Published Wed, Mar 25 2015 11:50 PM CDT   |   Updated Tue, Nov 3 2020 12:09 PM CST

The launch of Apple Pay late last year helped give the mobile payments effort a strong boost, with Apple promoting its service as extremely easy to use. However, six percent of purchases are reportedly made using stolen credit cards, which is a whopping 60 percent higher than regular credit cards.

Apple Pay security called out after spike in fraud-related issues | TweakTown.com

Apple hoped for simplicity with Apple Pay, but security researchers believe Apple should require users to prove their identities when signing up. There is a fine line between providing a safe and secure service over one that is difficult to use - and Apple must now try to find that balance, in an effort to fight fraud.

"The issuers were probably so eager to be involved that they kind of forgot best practices and sidestepped some procedures they normally would've had [in order] to accept Apple Pay," said Michelle Evans, senior analyst for consumer finance at the Euromonitor market research firm, in a statement published by the Washington Post.

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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