Apple Pay: Bridging Online and Big Box Fraud

[Overdrv]

Apple did some thing wrong ?? Lets see how the average Apple Fan boy will respond.

[Overdrv]

Maybe he can't hear you because he's not holding his Iphone right ?

[Webhead]

Is anyone here actually reading current events on this topic? Or am I the only one? I get it. You guys hate Apple. Now putting that aside (and your opinions),... let's start talking about the facts. We can start with the fact that Apple Pay has been a success so far. There is no denying that. The banks on the other hand have had some problems. Ok,... not a big deal. It will get fixed. And is being fixed. And that's pretty much it. Or am I missing something?

[Webhead]

Link: http://www.technologytell.com/apple/...ple-pay-fraud/

Financial institutions are improving their verification measures to avoid fraud through Apple Pay, as recent reports highlighted possible fraud through the new contactless payment system. The fraud didn’t arise due to issues with Apple Pay, but instead was the result of bad security on the side of banks.

Criminals had reportedly attached cards to Apple Pay with very little information, and then used the system to make purchases. Banks are responding by asking more questions and adding other forms of verification that people must go through in order to attach a card to Apple Pay.

Banks may now ask about recent purchases, require calls to customer service, or ask for details that only the real owner of a card would now. This does not deal with criminals who have already successfully attached someone else’s card to Apple Pay, but the new verification measures should prevent others from stealing and using cards.

One of the more common steps taken by financial institutions is to put in place a “yellow path” activation system. When that system is used, one-time codes are sent via email or text to a legitimate card owner’s phone or email address. This prevents fraud in the same way as other two-step authentication systems.

But I'm not sure why I bother writing this. Haters are just gonna hate. So what's the point I guess.

[CeeBee]

Again, the issue is not with the technology itself, it's with the fact that it renders all the card security null and void.
IMO to add a card to an "wallet" app, one should have to provide more than just CC# and CVV, there should be an authentication system with the issuing banks that requires more info for authentication (ex billing address, SSN, DOB) and only when the conditions are met allow adding the card. But most likely the 1-2% extra income from additional purchases these wallets allow is enough to cover the fraud.

[JaxSon]

But I'm not sure why I bother writing this. Haters are just gonna hate. So what's the point I guess.

And lovers are gonna love; no matter what! As long as it's got that Apple logo on it, you're gonna go for it; hook, line and sinker.

[slgrieb]

But I'm not sure why I bother writing this. Haters are just gonna hate. So what's the point I guess.

Seems like any time one of us has an issue with Apple products, you always just want to reduce it to "you guys just hate Apple". I've already said I blame most of the problems with Apple Pay on banks, but Apple isn't entirely blameless for the implementation of Apple Pay. They don't take a hit on charge backs due to fraud, and as far as I'm concerned, they released a product without adequate security controls. But, hey, not their problem, right?

[Webhead]

Again, the issue is not with the technology itself, it's with the fact that it renders all the card security null and void.
IMO to add a card to an "wallet" app, one should have to provide more than just CC# and CVV, there should be an authentication system with the issuing banks that requires more info for authentication (ex billing address, SSN, DOB) and only when the conditions are met allow adding the card. But most likely the 1-2% extra income from additional purchases these wallets allow is enough to cover the fraud.

I agree. There needs to be more checks done by the bank. That's all being worked on -- or so they say.

[Webhead]

Seems like any time one of us has an issue with Apple products, you always just want to reduce it to "you guys just hate Apple". I've already said I blame most of the problems with Apple Pay on banks, but Apple isn't entirely blameless for the implementation of Apple Pay. They don't take a hit on charge backs due to fraud, and as far as I'm concerned, they released a product without adequate security controls. But, hey, not their problem, right?

I'm sure they are all working together to fix this. And you guys DO all hate Apple. I'm not defending Apple,... I'm just telling it like it is.

[Larommi]

Not hating Apple as much as not understanding what is so difficult with a debit card that is chipped and needs a pin. why the fuck would I want to use one of the most stolen hand held devices to hold my personal information?