Fraud deals are starting to grow wildly in Apple's pay, and banks will step up their certification process

March 4, according to the Wall Street Journal, the Pay field researchers claimed that the fraud transaction began to grow wildly in Apple's mobile payment Apple Pay, which accounted for about 6% of the total number of transactions, and 6 times times the proportion of fraudulent transactions in bank swipe transactions.

Some banks are beginning to see an increasing number of fraudulent transactions in Apple's mobile payment services as criminals use credit cards to add to the loopholes in the certification process, people familiar with the matter said.

The banks began to strengthen the certification process in order to curb fraud, these people said. The people were reluctant to be named on the basis of a confidentiality agreement with Apple.

The problem of fraud in Apple's pay was revealed by Cherian Abraham, a paying expert, at the end of February. Abraham worked with banks and retailers to develop a mobile payment strategy. He says the problem of fraud is growing like weeds and it's hard for banks to tell their enemies.

Abraham said the fraud deal could account for about 6% per cent of the Apple Pay deal, compared with a fraud rate of about 0.1% per cent. He pointed out that the different rate of fraud transactions between the issuing bank is different.

An Apple spokeswoman declined to comment on the fraud deal, but said Apple Pay was designed to be very safe and intended to protect users ' personal information. She added that banks had been assessing and improving their certification processes, and that the lines were different in that regard.