Home Fraud Prevention Recent Hiccups Hindering Apple Pay

Recent Hiccups Hindering Apple Pay

A recently released consumer survey finds that more than two-thirds of people who attempted using Apple Pay in-store had problems at the point-of-sale and many were not able to make the purchase from their mobile device. These consumer frustrations follow recent news of lax authentication with issuing banks leading to high rates of fraud on cards from at least a handful of financial institutions.

Apple Pay has gotten off to a fast start as it is already accepted at more than 700,000 locations and supported by 2,500 issuing banks in the United States. It sent a jolt through the mobile payments market and likely influenced major acquisitions and investments from competitors now launching Android Pay and Samsung Pay services. There have been a few bumps in the road, however, and a new survey weighing in on consumer experiences with the mobile contactless payment system highlights some of these issues.

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