How Criminals Steal Information Through Apple Pay, Google Wallet, Contactless Cards
Near Field Communications (NFC) is a modern technology that allows communication between two electronic devices without an internet connection. There are many reasons why NFC is beneficial to consumers but as with many modern technologies; it doesn’t come without its risks. Platforms such as Apple Pay and Google Wallet both use NFC and the added convenience is by far the most popular advantage, as NFC makes it quick and easy for people to make purchases from their contactless cards or their mobile phone. The benefits. Let’s take a look at how NFC technology is used and how it is....
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Wallets of various descriptions have come into vogue of late. Some of these wallets are run by large IT companies like Apple and Google, whilst others are run by financial institutions such as the banks. Then there are the likes of Paypal who also have a stake in the whole wallet business. These wallets exist in different forms and shapes and while some are only payment apps, others feature contactless payment technology which allow people to pay for things at shops. The underlying technologies for these wallets range from QR, NFC, Wi-Fi, Bluetooth etc. Surge in payment apps. According to....
This is what Amazon Wallet looks like. Amazon isn't new to the digital payments industry. The online retailer launched Amazon Payments back in 2007, a service that directly competes with the likes of PayPal and Google Wallet. Then in December 2013, Amazon purchased GoPago, a mobile payments platform. Now, continuing the company's push into the digital payments sector, Amazon has launched Amazon Wallet. What Amazon Wallet Does, Or Rather, Doesn't Do. Amazon Wallet is...surprisingly basic. Designed for use at the point-of-sale, Amazon Wallet is essentially an Android app that stores gift....
Russians cashed out over $1.3 billion from banks on the first day of Russia’s invasion of Ukraine, the largest amount since the onset of COVID-19. Several Russian banks that have been sanctioned over Russia’s “special military operation” in Ukraine will no longer support major payment services like Apple Pay and Google Pay.Russia’s second-largest bank, VTB — as well as other banks like Sovcombank, Otkritie, Novikombank and Promsvyazbank — are on the list of companies sanctioned by the United States, the Bank of Russia confirmed on Friday.Users of debit and credit cards issued by these....
Mobile payments are only as secure as the wallet service is, and Apple Pay is not doing the best of jobs to protect consumer data. While many people see Apple Pay as a form of Fintech innovation, making mobile payments through Apple’s financial solution with stolen credit card information appears to be much easier than originally anticipated. Some people would go as far as saying how this mobile wallet is quite inferior to other financial technologies, including Bitcoin. Apple Pay Fraud Rates. Assailants have not managed to break the Apple Pay wireless payment mechanism security, yet the....
Although the cryptocurrency has been a preferred payment method among Darknet vendors for some time, it looks like things are only getting worse. The dark web remains a premier marketplace for stolen credentials and other information these days. With the 2016 tax season in full effect in the US, scammers are collecting information at every possible turn. With the stolen information, criminals can commit tax refund fraud. Even people who aren’t bothered to steal the information themselves, buying the details from the deep web has become relatively easy these days. It is evident the 2016 US....