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Fraud will find a way

From: Manu Sporny <msporny@digitalbazaar.com>
Date: Tue, 03 Mar 2015 19:40:31 -0500
Message-ID: <54F6547F.5000804@digitalbazaar.com>
To: Web Payments IG <public-webpayments-ig@w3.org>
Fraud Comes to Apple Pay

Abraham said it’s not “an anomaly” to see fraud accounting for about 6%
of Apple Pay transactions, compared to about 0.1% of transactions using
a plastic card to swipe. He noted that fraud rates vary by issuing bank.
the weakness identified by Abraham occurs at an earlier stage, when a
user is adding a credit card to Apple Pay.
Card issuers have been eager to join Apple Pay, and it’s possible that
some didn’t provide enough training to customer-service representatives
who handle authentication questions

-- manu

Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
Founder/CEO - Digital Bazaar, Inc.
blog: The Marathonic Dawn of Web Payments
Received on Wednesday, 4 March 2015 00:40:56 UTC

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