"With this announcement, Apple validates the data-centric security model, and shines a spotlight on the need for the payment world to move on from vulnerable static credit-card numbers and magnetic stripes to protected versions of data — tokenized payments," Mark Bower, vice president of product management for Voltage Security, said.
However, if Apple Pay and other similar services are widely adopted, then hackers are expect to shift their attention to online retailers accepting credit card numbers from customers via computers or mobile devices.
"It will probably reduce overall fraud, but online fraud will increase," Alisdair Faulker, chief products officer at ThreatMetrix, said. "That's something to be aware of. There will be winners and losers."
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