Google Wallet, Softcard, and now Apple Pay have shown that the future of commerce is leaning towards paying through your mobile device, rather than your credit card. While it is convenient, the question is how truly safe is this?
Any new system, no matter how much beta testing is done, still has bugs and vulnerabilities that aren’t addressed until it is out in the market. With all that said, mobile payment methods on paper appear to be safer than the typical magnetic strip credit cards and even safer than EMV chipped cards. At this point, the general opinion is “it can’t be any worse than what we have now.†For a full article on this topic, click here:: Apple Pay: How Secure Is It?
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