Banks, retailers 'stung', Apple Pay still secure

Rene Richie, iMore:

Earlier this week we debunked sensational headlines mislabeling bank fraud as Apple Pay fraud. Now those same headlines are back, but with a new twist.

This time the headlines say Apple Pay has been "stung" by people using false credit card numbers obtained from last year's Target and Home Depot breaches. Sadly, these headlines are just as inaccurate. Banks and retailers may have been "stung", but Apple Pay is still as secure as ever.

The Wall Street Journal:

"Apple Inc. 's new mobile-payment system has been hit by a wave of fraudulent transactions using credit-card data stolen in recent breaches of big retailers, including Home Depot Inc. and Target Corp. , people familiar with the matter said."

Apple Pay security actually prevents just that kind of data from being stored by retailers. It will keep customers, banks, and stores safer. By spreading fear, uncertainty, and doubt (FUD) about Apple Pay, it actively hurts rather than helps transactional security.

Shame on The Wall Street Journal.