How Apple Pay revolutionizes payments security and what it means for the payments industry

BI IntelligenceHow an Apple Pay transaction works

Apple Pay promises to bring mobile payments into the mainstream and is widely lauded for its ease of use. What’s garnered less attention — perhaps because of its complexity — is the innovative security framework the feature uses to prevent fraudulent transactions and data theft. When mobile payments methods employing security standards like Apple Pay’s become more mainstream, fraud as it is conducted today will be greatly reduced.

In a new research from BI Intelligence we give a step-by-step breakdown of how Apple Pay works and the implications for the payments ecosystem as Apple Pay and similar technologies become ubiquitous.

Access The Research And Downloadable Infographics By Signing Up For A Trial Membership Today >>

Here are some of the key takeaways:

To access the full report from BI Intelligence, sign up for a 14-day trial here. Members also gain access to new in-depth reports, hundreds of charts and datasets, as well as daily newsletters on the digital industry.

NOW WATCH: Apple sneaked in an annoying new feature in its latest iPhone iOS update — but there’s also an upside

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.