Thursday, March 5, 2015

Apple Pay used in fraudulent transactions involving stolen credit card data

Stolen credit card data has been used in some fraudulent transactions involving Apple Pay, according to a report that was published on Thursday by the Wall Street Journal. The Journal says that the data was stolen from retailers like Home Depot and Target. 80% of the fraudulent purchases were for high-priced items bought using an iPhone, at Apple's own stores.



Apple Pay is only a few months old, but has already raised the public's awareness of mobile payment systems in general. Apple Pay accounted for 67% of all mobile payment transactions on the top three credit card networks in the U.S. ...

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