Tag: apple

Security flaw discovered that could impact Apple’s mobile payments service

Apple Watch has a flaw that could leave some consumer information exposed

A security flaw has been discovered on the Apple Watch concerning Apple’s mobile payments service. Apple Pay has become quite popular among iOS users, receiving praise for being secure and convenient. On the new iPhone, consumer financial information is kept secure thanks to biometric technology. Those wishing to make a mobile transaction through Apple Pay on an iPhone must scan their fingerprint before they can do so. This feature is absent from Apple Watch, however.

Watch uses skin contact as a protection method

Apple Watch is not equipped with a fingerprint scanner, so must rely on other security solutions in order to keep consumer information safe. GadgetHacks recently posted a video to YouTube that highlights a security flaw. Though Apple Watch does not use a fingerprint, it must maintain contact with a user’s skin, otherwise the device will be locked until they input their password. This is meant to protect the device, but the security flaw has to do with the amount of time it takes for the device to register that it is no longer in contact with human skin.

Simple flaw in sensors could give thieves access to someone’s mobile payments accounts

Mobile Payments - Apple SecurityAccording to GadgetHacks, it takes about a second before the device detects that it has no contact with human skin. This means that someone could steal Watch and simply place their finger on the sensor in order to avoid it being locked. The sensor cannot tell the difference between the skin on the wrist and the skin on the finger. While this may not seem like a major problem, those that manage to steal the device and exploit this flaw could have access to consumer information, including their mobile payments accounts.

Apple may not feel the need to address security flaw

Apple has been careful to ensure that its mobile payments service is as secure as possible. The company has managed to succeed in this endeavor quite well, but absolute security can be an impossible task to accomplish. Whether or not Apple will address the security flaw with the Watch device is unknown. The flaw may be considered so minor that it does not require any significant attention from the company.

Apple and Alibaba may be partnering on mobile payments

Apple and Alibaba are in talks about expanding Apple Pay to China

A new partnership that could have a significant impact on the mobile payments space may be taking form. Apple and Alibaba are reportedly in talks to team up on the matter of mobile payments. Apple is also in negotiations with Chinese banks in order to make mobile payments possible for iOSĀ  users in China. According to Apple CEO Tim Cook, the company is very eager to bring Apple Pay to China.

China continues to thrive as a mobile market

China is home to one of the fastest mobile payment sectors in the world. Alibaba has been pushing to expand the mobile payments space throughout the country. The company launched its own payments service called Alipay, which is the leading payment platform for mobile consumers in the country. Alibaba has been making strategic partnerships with various companies to make mobile shopping and payments easier for consumers.

Apple Pay may soon expand beyond the United States

Company News - Apple and Alibaba my form mobile payments partnershipApple Pay launched in October of last year, but is currently only available in the United States. Apple is looking for ways to expand the service into other markets, such as Canada and the United Kingdom. China may become the next market that Apple expands its mobile payments service into, and the country could become a major victory in Apple’s ongoing mobile payments fight. Apple will have to work with Chinese banks in order to make expansion possible, however, which could be a complicated matter as many banks have already sided with Alibaba concerning mobile payments.

Alibaba continues to show dominance in the mobile payments space

Alibaba is currently the largest supporter of mobile payments in China. The company has been competing with several others in order to maintain its position in the market and has managed to succeed in this endeavor. A deal with Apple to bring Apple Pay to China could be a boon for Alibaba, as it is also one of the largest Internet retailers in the country. Supporting multiple forms of mobile payments has proven to be a practice that is supported by consumers.