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Comment Re:I hope Apple Pay will die (Score 1) 289

How do you pay online with Apple Pay again? That's right, you need your card number and expiration date. The solution to online fraud is to have a password. Visa and Mastercard started implementing it.

In store you need the PIN, whether you have Apple Pay or not.

Apple Pay works online, same security, same privacy protections. No card number or expiration date required. Apple Pay only requires a pin or fingerprint on the device, not on the POS terminal. Neither the pin or fingerprint data ever leaves the device. Passwords at a POS terminal (or ATM) are easy to skim.

Comment Re:I hope Apple Pay will die (Score 1) 289

" A castle is as insecure as its weakest door. Apple Pay doesn't address the problem of the weak door at all" I assume from what you wrote (it's not particularly clear) that this weak door you refer to is chip and pin ("need to support payments method others than Apple Pay"). If so then Apple Pay does help address this. Banks set fees in part based on risk, if a safer option becomes available banks will tend to offer that safer system a better rate (or conversely raise the rates of less safe systems), encouraging the migration to safer (and cheaper) solutions. Don't forget when Apple Pay was introduced the roll-out banks came out and said that Apple Pay was extremely safe and the transactions were getting a rate that reflected that safety.

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