Tag: apple pay
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Former iPhone Thief Reveals Tactics Used to Hijack Phones and Exploit Apple’s Security Vulnerabilities
An investigative video by the Wall Street Journal details the methods used by a convicted iPhone thief, Aaron Johnson, to exploit a security vulnerability in Apple’s software and steal hundreds of thousands of dollars from unwitting victims. Johnson, who now faces several years in prison, would target individuals around bars, often using deception to obtain…
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Exploring the Security and Efficiency of Tap-to-Pay Technology: A Closer Look
In a recent exploration of the technology behind tap-to-pay systems, it’s clear that Near Field Communication (NFC) is revolutionizing the way transactions are conducted. This technology not only speeds up the payment process but also enhances security, making it a safer alternative to traditional credit card swiping. NFC operates through a unique interaction between a…
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Apple Intensifies Competition in Digital Wallet Space, Prompting Bank Countermeasures
The escalating competition between Apple and traditional banks over the digital wallet space is gaining momentum. Apple Pay, introduced in 2014, now sees activation on 78% of iPhones in the U.S., challenging the banks by charging them fees for transactions and potentially eroding their customer relationships. While Apple’s revenue from Apple Pay is a growing…