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.

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Here are some of the key takeaways:

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