Apple Pay fraud levels are now “rampant” with every Apple Pay (AP) issuer having seen “significant” provisioning fraud, payments consultant Cherian Abraham claims in a detailed blog post. The fraud levels being experienced “came as a surprise to all”, he writes. “Tokenization, on-device secure storage and biometrics separately and together are formidable, but the soft underbelly proved to be provisioning of cards into AP.”
- Square arrives in the UK
- Nordic banks roll out first mobile payment services with support for Dankort
- Boston Fed calls for clearer value proposition to encourage mobile payments
- Apple Pay to launch in Taiwan on March 29?
- Wells Fargo to add NFC mobile withdrawals to ATMs later this year