Apple prevents $1 billion in payment fraud

Apple Pay prevented more than $1 billion in fraudulent credit and debit card transactions globally last year.

Apple has prevented $1 billion in payment fraud in the past year - Illustration photo

On October 28, Apple announced remarkable figures related to its Apple Pay payment service, which is being used by hundreds of millions of users worldwide .

In addition to the more than $1 billion in fraud that Apple Pay has prevented in credit and debit card transactions globally over the past year, the payment service also announced that it can reduce fraud rates by more than 60% compared to traditional credit and debit card transactions. In some cases, it can be up to 85%, even 90%.

According to Apple's internal data, as well as data from Apple Pay partners and industry data, Apple Pay contributed to more than $100 billion in global sales over the past year thanks to higher authentication rates and cardholder growth.

Apple Pay is currently available in 89 markets worldwide, including Vietnam, with the cooperation of more than 11,000 banks and payment networks, including 15 domestic payment networks.

Apple Pay mobile payment service will be available in Vietnam from August 2023 and currently there are about 10 banks linked to this service.

Apple Pay is Apple's mobile payment and digital wallet service that allows users to make contactless (NFC) transactions securely, quickly, and conveniently on Apple devices such as iPhone, Apple Watch, iPad, and MacBook.

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Source: https://tuoitre.vn/apple-ngan-chan-1-ti-usd-gian-lan-thanh-toan-20251028113453187.htm