Is Apple Pay secure?

The COVID-19 epidemic has made many people prefer contactless payments to cash. More and more people using Apple Pay are using their iPhones for contactless payments. But can you really trust it? However, you can never be too careful when it comes to protecting your financial information.

What you need to know about Apple Pay, and is it safe enough for you to link your credit or debit card to your iPhone?

What is Apple Pay?

Apple Pay is a digital payment system that allows users to purchase items or transfer money using Apple devices connected to their credit or debit cards. It requires cash or debit and credit cards as your iPhone or Apple Watch can make all contactless payments.

Apple Pay is currently available in more than 20 countries and is available in the Wallet app of any Apple device – including iPhones, iPads, Watches and Macs.

Does Apple Pay store your credit card details?

How does Apple Pay work? When you first set up a card with Apple Pay, it asks you to verify the card with your bank for your card number, expiration date, and CVV code. This is a one-time thing for verification, and details are not secure with Apple. So Apple Pay does not share these details when you make a transaction.

Make a video of the day

Instead, it uses a process called “tokenization”, which generates a unique passcode each time you make a transaction.

In addition, Apple Pay requires additional verification before completing a purchase, such as Touch ID or Face ID. That way, it can often better protect your financial information from credit cards.

Related: How to use Apple Pay in stores and online.

Apple does not store or access the original credit, debit, or prepaid card number you use with Apple Pay. Because your card information is not stored on your devices or Apple’s servers, none of that information is shared with retailers.

The contactless payment system also prevents your information from being exchanged through the scamming device.

Apple Pay has no spending limit. However, shops and retailers may impose a contactless limit, which is usually subject to the laws of individual countries. For example, you may need to provide a signature for purchases over $ 50 in the USA when using Apple Pay.

Similarly, the general limit for Apple Pay transactions in the UK is £ 100 (GBP). Apple maintains a complete list of possible boundaries per country that you can cross.

Is Apple Pay’s Express Transit System Secure?

Used on Apple Pay Mac.

No payment system is 100% secure, and each has its own weaknesses and flaws. With that in mind, Apple Pay is still quite secure.

However, researchers at the University of Birmingham and the University of Surrey have discovered a possible flaw in Apple Pay’s Visa Express transit system.

The Express Transit system allows users to pay for the transport system without having to confirm payment via Fee ID or Touch ID, as they usually do for any other transaction. The goal is to reduce tap times inside or outside transit gates. To do so, all you have to do is tap on your device’s contactless reader, which automatically confirms the payment.

Researchers were able to get the iPhone to think that it was communicating with the transit gate when it was actually a payment reader used through stores. This was done by identifying a unique code transmitted through transit gates or turn styles, which was then used to intercept signals between the iPhone and the shop card reader.

Interestingly, this error was only found in Visa cards set up with Express Transit mode. Researchers warn that taking advantage of this problem can lead to transactions without the knowledge of an iPhone in one’s bag or pocket.

Related: How to pay someone with Apple Pay on your iPhone.

Researchers say they contacted Apple and Visa with their concerns, but did not resolve the issue at the time of writing. Visa believes such an attack was “unworkable”:

“Variations in contactless fraud schemes have been studied in laboratories for over a decade and it has been proven that it is impossible to implement them on a large scale in the real world.”

Apple’s view on the matter was similar:

“We take any threat to consumer security very seriously. This is a matter of concern for the visa system, but Visa does not believe that this type of fraud is likely to occur in the real world because of the high level of security.” There are layers. “

There is no evidence that this method is being used by criminals in the real world to make unauthorized payments or to defraud consumers.

What do banks say?

Barclays statement on Apple Pay

Banks generally rely on Apple Pay, many have public web pages to support the payment system.

Barclays, an international bank based in the UK, says Apple Pay is very secure because it uses a unique device account number. However, it further suggests that you protect your card by selecting a device passcode that only you know and store your fingerprint in Apple Pay.

How To Protect Your Apple Pay

Apple Pay is an extremely secure way to pay for in-store, in-app and online purchases. But if you do not use common sense and do not remember the best practices for financial transactions, the latest data security approach will not work.

Related: How to configure and use Apple Pay on your Mac.

Never transfer money to unknown websites or pay for suspicious point of sale (POS) services. And always double check the amount of payment before tapping your device. This will help you keep your money safe, and allow you to make the best payments for contactless payments.

In case you feel that you have been deceived or unauthorized money has been deducted from your account through Apple Pay, make sure that you confirm it from the Wallet app transaction list, and then the transaction. Contact your list to cancel.

Is Apple Pay secure?

Apple Pay is one of the newest paymentless payment technologies, and it is understandable that some people may be skeptical about its security. We feel this system is very secure, and this is evidenced by the reluctance of banks to adopt the technology and the spread of Apple Pay in many countries around the world.

Other wallet activities, such as Apple Cash, have also been shown to be secure.

Apple Pay’s security depends largely on how you use it. So focus on using it carefully, consciously and with caution, and you should be fine.

Apple Pay on iPhone
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