Will Apple Pay Be the Solution to Credit Card Hacking Problems?
Could Apple Pay be the best solution to the continuing problems regarding hack attacks that target credit cards? Many people believe so. Among them is Robin Sidel, a writer from the Wall Street Journal.
In a recent discussion with Fox Business, Sidel shared her insights on why she thinks the new payment system from Apple Inc could be a timely solution for modern shoppers. First, she said the new technology is ideal because it conceals the credit card information from any other possible party, especially hackers.
To this, she reminded that it is actually possible to hide such sensitive information from unscrupulous groups. Sidel pointed out that the new pay product is not the only technology so far to hide credit card data from hackers.
Making plastic cards more secured
This is also possible with the use of computer chips, which can replace the magnetic strips in credit cards. Sidel noted that as far as she knows, several banks, which include Bank of America, are starting to consider adopting this technology to help spare credit card users from this issue.
In fact, she cited, by the end of next year, up to 577 million debit and credit cards would install computer chips into the plastic cards. This is obviously a strategy to end unnecessarily hacking activities across the market.
While Sidel thinks that more consumers still prefer using credit cards rather than mobile payment systems, she reiterated the main advantage of Apple Pay. She pointed out that aside from ensuring overall security, the new payment system would also be more interesting and advisable to younger consumers, who are already using iPhone 6 and/or iPhone 6 Plus.
All about convenience
And why would they dislike this technology when it could be more convenient to them? Sidel asserted that with Apple Pay, consumers could opt to just carry their iPhones and possibly leave their wallets at home.
Apple Pay was one of the new wonders introduced by Apple in September. It is yet to be fully rolled out, although it is already set for usage of iPhone 6 and iPhone 6 Plus users. According to sources, it would also be eventually rolled out to users of iPhone 5 and iPhone 5S users.