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@Sven, I simply don't believe that any system that involves the opportunity to steal money, and is on the internet in any way, will ever be safe from malware.
Malware is a big concern. But, this is good progress in the security of payments. Handing over your card which could be copied, versus fingerprint ID and tokenization.
It might take an expert to explain better than I but how can thieves steal your card info online when all the information going across is just random numbers and not your actual card numbers?
No prob. I mean, we live in this world where if they can at least get the point of sale right (tokenization for Apple Pay, using the master Mastercard for Google Wallet), that's at least something that is secure and working and hopefully other aspects are taken care of sooner than later.
I mean, the fact that POS is secure already makes mobile payment a more appealing alternative to credit cards in terms of security.
The next step would be incorporating Apple Pay/Google Pay into ATM machines. Hopefully it would be less prone to theft due to scanners and cameras.
They have it now where you can "pre-order" your ATM transaction (http://www.fisglobal.com/C024276) and use your mobile phone. It would not surprise me if the mobile wallet (Apple/Google Pay) added this feature.
That said, I think eventually societies will go cashless (there's more and more calls for it, I think it's pretty much inevitable) and then there will be no use for ATMs that I can think of.
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It might take an expert to explain better than I but how can thieves steal your card info online when all the information going across is just random numbers and not your actual card numbers?
http://www.zdnet.com/article/apple-pay-could-help-move-online-credit-card-fraud-into-physical-stores/
I mean, the fact that POS is secure already makes mobile payment a more appealing alternative to credit cards in terms of security.
That said, I think eventually societies will go cashless (there's more and more calls for it, I think it's pretty much inevitable) and then there will be no use for ATMs that I can think of.