The whole US credit card security system is deeply flawed – that’s the problem. In essence, the hardcore tech stuff for Apple Pay works fine: no one is breaking TouchID, stealing iPhones to pay for stuff, or hacking the NFC transmission protocol. Rather, the flaw lies in credit cards themselves.
People are buying credit-card numbers online, then loading those same numbers into Apple Pay, in essence making themselves a handy fake credit card, without going to the trouble of making a physical fake. Most problematically, it's easy for hackers to steal credit-card numbers from shops and then sell those numbers online.
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