If your credit or debit cards haven’t been compromised, you’re part of a shrinking demographic. Database breaches in recent months have exposed tens of millions of cards to potential fraud.
But Apple’s new payment system has the potential to sidestep the bad guys and someday, perhaps, make breaches a thing of the past, according to LowCards.com’s Bill Hardekopf.
Apple Pay, announced Monday, allows people to pay for stuff with their phones, but your credit and debit card numbers won’t live there. The system generates unique tokens that are used instead. No longer would your sensitive financial information be sent into the ether, to be stored in insecure databases.
You can read more at “Could Apple Pay Be the End of Data Breaches?“