The big question for Apple Pay is whether Apple can succeed where others have failed and take contactless payments from a niche service to more mainstream adoption, according to Tech Radar.
A key factor is the security of the system, because retailers in particular have been a prime target for cybercriminals, with point-of-sale systems proving to be a valuable commodity, and malware targeting credit and debit card readers or cash registers steadily on the rise.
Apple doesn’t have control over point-of-sale systems, but its new mobile payments should provide reassurances for consumers. The critical difference is that it uses encryption to protect payment information using a one-time payment number, so personal credit information is not transferred in the transaction.
Adding in the extra stage of security in fingerprint recognition, this is a very powerful and secure change in transmitting payment data — an approach that could even pressure banks to change the way a standard debit or credit card transaction takes place and to change their security protocols.