How Apple Pay Makes Retail More Secure
Posted: Sun Jan 19, 2025 5:22 am
Over the past few years, companies have been bombarded with security issues in the payments industry.
Major retailers like Target and Home Depot were among the biggest victims of a massive hacking scandal . As a result, confidential information was stolen and illegally used by hackers to siphon money from customers to themselves.
This has raised eyebrows around the world and caused fear among retailers and consumers alike. Fortunately, major tech companies like Apple are developing alternative solutions to prevent further hacks and thefts in the payment industry.
Here's how their new payment system is making the retail world safer:
1. Apple Pay encrypts your payment information so no one can miss it.
Regular credit/debit cards leave behind a trail of some information about romania breadcrumbs when used at retail POS terminals. From name to account number, everything is sent to a database. This can be scary because your account information can be phished and hacked, just like Home Depot and Target.
Apple Pay instead accesses your credit/debit card through a form of NFC (Near Field Communication), which is essentially a radio frequency that is recognized by a card reader.
Apple Pay then processes your credit/debit card information very simply. The software stores the information in Apple's Passbook (this is the folder that also stores your boarding passes, coupons, and more on your Apple devices). From there, Apple will use an encryption code to display a unique number instead of displaying the actual account number found on your credit and/or debit card when you pay. Apple never stores the unique number on its server to ensure that specific transactions cannot be linked to the purchaser.
2. Apple makes it easier to prevent physical theft.
But you might be wondering what happens if someone gets hold of your mobile device that’s paired with Apple Pay. First, you can access your Find My iPhone app and put your device into Lost Mode, which suspends your Apple Pay account. You can also completely wipe your mobile device if needed through the app. This ensures that any sensitive information left on the device is inaccessible. But the biggest security for Apple Pay is the biometric system, which scans the fingerprints of the phone’s owner. This means that unless someone grabs your blood-pumping fingers, they won’t be able to use your Apple Pay. No more worrying about your kids taking your credit cards!
3. Apple Pay enables more efficient multi-channel retail.
Apple Pay provides a seamless and easy experience for customers, no matter where they choose to interact with your retail brand. It’s a fast way to pay in person because you don’t have to pull out your wallet, shuffle your cards, and then hand your card to someone who might steal your information. It also makes it easier to shop online and in apps.
POS system with Apple Pay support
There are currently only a few point of sale providers that can process Apple Pay, such as iConnect POS .
While there are many shortcomings in the payments industry today, there are changes lurking around the corner that will provide financial protection.
Have you tried implementing Apple Pay in your business? Leave your impressions in the comments!
Title by Abby Kaler
Looking for point of sale software? Check out Platforms' list of the best point of sale software solutions .
Major retailers like Target and Home Depot were among the biggest victims of a massive hacking scandal . As a result, confidential information was stolen and illegally used by hackers to siphon money from customers to themselves.
This has raised eyebrows around the world and caused fear among retailers and consumers alike. Fortunately, major tech companies like Apple are developing alternative solutions to prevent further hacks and thefts in the payment industry.
Here's how their new payment system is making the retail world safer:
1. Apple Pay encrypts your payment information so no one can miss it.
Regular credit/debit cards leave behind a trail of some information about romania breadcrumbs when used at retail POS terminals. From name to account number, everything is sent to a database. This can be scary because your account information can be phished and hacked, just like Home Depot and Target.
Apple Pay instead accesses your credit/debit card through a form of NFC (Near Field Communication), which is essentially a radio frequency that is recognized by a card reader.
Apple Pay then processes your credit/debit card information very simply. The software stores the information in Apple's Passbook (this is the folder that also stores your boarding passes, coupons, and more on your Apple devices). From there, Apple will use an encryption code to display a unique number instead of displaying the actual account number found on your credit and/or debit card when you pay. Apple never stores the unique number on its server to ensure that specific transactions cannot be linked to the purchaser.
2. Apple makes it easier to prevent physical theft.
But you might be wondering what happens if someone gets hold of your mobile device that’s paired with Apple Pay. First, you can access your Find My iPhone app and put your device into Lost Mode, which suspends your Apple Pay account. You can also completely wipe your mobile device if needed through the app. This ensures that any sensitive information left on the device is inaccessible. But the biggest security for Apple Pay is the biometric system, which scans the fingerprints of the phone’s owner. This means that unless someone grabs your blood-pumping fingers, they won’t be able to use your Apple Pay. No more worrying about your kids taking your credit cards!
3. Apple Pay enables more efficient multi-channel retail.
Apple Pay provides a seamless and easy experience for customers, no matter where they choose to interact with your retail brand. It’s a fast way to pay in person because you don’t have to pull out your wallet, shuffle your cards, and then hand your card to someone who might steal your information. It also makes it easier to shop online and in apps.
POS system with Apple Pay support
There are currently only a few point of sale providers that can process Apple Pay, such as iConnect POS .
While there are many shortcomings in the payments industry today, there are changes lurking around the corner that will provide financial protection.
Have you tried implementing Apple Pay in your business? Leave your impressions in the comments!
Title by Abby Kaler
Looking for point of sale software? Check out Platforms' list of the best point of sale software solutions .