Apple Pay security would “fundamentally diminish” with banks

iOS 8 iphone 6 apple mobile security

The company won’t budge despite pressure from Australian banks to add wallet apps to iPhones. Australian banks have been coming together to try to pressure Apple to include their products on iPhones. However, the American company has insisted that Apple Pay security would suffer if it were to add mobile wallets from the banks. The company is standing firm against the three banks. Apple has opted not to give the banks access to the NFC chip used by its own Apple Pay wallet. The three banks wanted iPhone users to…

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Mobile security is no higher in payments apps than other applications

mobile payment security cyber wallet

A recent study of 10 popular digital wallets showed that even basic levels of protection were absent. A recent study conducted on the mobile security associated with the top 10 smartphone payments apps has determined that these applications lack everything from basic protection and controls upward. While the holiday shopping season is now underway, shoppers might want to understand this risk before paying over mobile. American retailers are now in full swing of the holiday shopping season and while many companies feel that this will be the season in which…

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