Around the Net
Banks Back Apple Pay on Fraud Liability
- Let's Talk Payments, Tuesday, October 14, 2014 12:36 PM
Apple Pay, before its launch itself, has received backing from major banks such as Chase, Navy Federal Credit Union, PNC and USAA. These banks are all in praise of Apple’s highly secure payment process. Apple Pay is incorporating multiple security features which include Touch ID fingerprint authentication, NFC, Secure Element data storage and tokenization for transaction processing. Top banking officials believe that Apple Pay has the potential to make tokenization a part of the standard banking model.
