Could Apple Pay Fraud Have Been Prevented?

By now, pretty much everybody has heard about the identity fraud going on with Apple Pay. Stolen card data from the card-not-present channel and even some of last year's stolen Target and Home Depot card data from the card-present channel, seem to be finding its way comfortably into Apple's Mobile Wallet. Effectively, stolen card data is being converted into 'legitimate' Apple Pay 'cards'.

The common view among bloggers and industry experts is that this is not an Apple Pay problem. It basically says that Apple was not responsible, in the first place, for properly authenticating cardholders during the enrollment process. Instead they say it was the responsibility of card issuer to identify the user of the card before it got into the wallet.

I simply disagree. Apple and the payment industry cannot continue to blame each other and hope that the problem will simply disappear somehow. No, it won't happen! y expectation is that, unfortunately, the problem may grow further if nothing is being done to fix it. In my opinion, both Apple and the payment indus ...

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