Why Is Almost No One Using Apple Pay?

From Forbes –

“Do you use Apple Pay? Or Google Wallet? Or any other mobile payment service on your smartphone? No, I didn’t think so. No one seems to be using their smartphones to pay for stuff. Well, almost no one.

We don’t want to carry around credit cards, or even our wallets, right? But we still have to. With all of the hubris and excitement over mobile payments I rarely see anyone buying things at stores and restaurants with their mobile devices. My family, friends and work colleagues all own iPhones or Android smartphones. We’re not afraid to download Apple Pay or Google Wallet or another mobile payment service and get it configured. And yet, we are still overwhelmingly using credit cards like we’ve always been doing.

Why? Small merchants aren’t getting on board.”

Read more>>

New Credit Card Technology With Constantly Changing CVV Code Could Help Combat Fraud

From Inquisitr –

“Credit card fraud and identity theft affect over 20 million people every year, and while credit card technology is advancing to try to fight it, it’s doing so at a painfully slow rate. If a French credit card maker has their way, however, we’ll be using special new cards with batteries and screens.

The credit card prototype is designed by Oberthur Technologies and is designed to last three years. Inside the card is a small battery that powers a mini-ink screen. The screen takes the place of your CVV code and displays a randomly generated set of three digits every 40 to 60 minutes.”

Read more>> 

Are Apple Pay and Google Wallet really credit card killers? Not so fast!

From Upstart –

“For this mobile generation, credit cards definitely seem antiquated with their scratched-up magnetic stripes and breakable plastic. But IT consultant Himanshu Sareen explains why mobile wallets are unlikely to replace them anytime soon.”

Read more>>

Apple Pay: a new frontier for scammers

From The Guardian –

“Apple’s mobile payment system has provided a method for US criminals to make fraudulent transactions – and banks are rushing to stem the tide.

Criminals in the US are using the new Apple Pay mobile payment system to buy high-value goods – often from Apple Stores – with stolen identities and credit card details.

Banks have been caught by surprise by the level of fraud, and the Guardian understands that some are scrambling to ensure that better verification and checking systems are put in place to prevent the problem running out of control, with around two million Americans already using the system.

The crooks have not broken the secure encryption around Apple Pay’s fingerprint-activated wireless payment mechanism. Instead, they are setting up new iPhones with stolen personal information, and then calling banks to “provision” the victim’s card on the phone to use it to buy goods.”

Read more>>

Cash is Still King - Real-life stories underscore the importance of cash

From ATM Marketplace –

“What to do when you drop off your child at school and then run out of gas — without one thin dime in the pocket of the bathrobe you threw on before charging out of the house?

This and other real-life dilemmas provide the content for a new animated video from the ATM Industry Association that premiered at last week's 2015 ATMIA US Conference and Expo at Caesars Palace in Las Vegas.

"Cash Always Works" relates 10 true (and embarrassing and heartwarming and cautionary) stories that underscore the importance of cash — whether from one's own wallet or that of a Good Samaritan passing by.”

Read more>>

Watch the video>>