Pointing Fingers in Apple Pay Fraud

www.nytimes.com

A story that reveals a lot about the cultural divide that sometimes prevents high-performance technologies from being integrated into more traditional services; and about the current power balance. Six months into enthusiastic adoption of Apple's electronic payment system for iPhone, America's banks are complaining that credit card fraud via Apple Pay is “growing like a weed". The banks' own approval processes seem largely to blame, but amidst known issues, "some bank executives acknowledged that they were were so scared of Apple that they didn’t speak up".

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