The reception received by the Pay Apple was favorable and encouraging for the Cupertino company. Applications for authorization from banks and card issuers to validate the association of a card or account to pay Apple were very numerous. But this success would have enabled fraudsters to access the payment system.
It is through the Cheriam Abraham analyst just information. According to him, if the security of the Apple Pay is not to question, it is a combined action of attacks on store databases such as Target and Home Depot and method validation banks that allowed this fraud.
The many customers information was stolen from Target stores and Home Depot last year. This information, such as social security number, date of birth and banking information are also those used to verify the identity of the user when the latter asks validate the integration of his account or his credit card to Apple Pay.
With the many validation requests received, the banks have set up systems that were not always secure and 100% reliable. Thus, the use of call centers has enabled fraudsters to use the stolen accounts.
It is difficult to estimate the number of transactions and fraudulent payments that have occurred since the launch of Apple Pay in September. The research firm eMarketer estimates, however, the mobile payment market (through a smartphone is 3.5 billion since 2014. This is expected to only increase with the arrival of new players such as Samsung and Google and LoopPay or softcard .
The launch of Apple Pay in France is expected to occur in 2016. French banks benefit by then expertise and errors of their US counterparts to ensure that fraud does not recur.
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