Apple Pay Hit by Wave of Fraudulent Transactions
Apple Inc's mobile payment system Apple Pay has been hit by a wave of fraudulent transactions using stolen credit-card data from a spate of breaches at retailers, the Wall Street Journal reported, citing people familiar with the matter.
The transactions stemmed from breaches at retail giants including Home Depot Inc and Target Corp, the Journal reported on Thursday.
The majority of unauthorized purchases have been for big-ticket items bought with smartphones at Apple's own stores, the Journal said.
Apple could not be reached immediately for comment.
(Reporting By Darshana Sankararaman in Bengaluru; Editing by Ken Wills)
Entrepreneur Editors' Picks
-
These Co-Founders Are Using 'Quiet Confidence' to Flip the Script on Cutthroat Startup Culture and Make Their Mark on a $46 Billion Industry
-
My 7-Year-Old Daughter Started Selling Eggs. Here's What She Taught Me About Running a Startup.
-
Why You Need to Become an Inclusive Leader (and How to Do It)
-
Career Transitions You Can Make in Your 40s and 50s
-
Billionaire Naveen Jain Is an Expert at Disrupting Fields He Has No Experience In. His Secret Sauce for Building Multi-Million Dollar Companies? 'You Have to Come as Naive.'
-
4 Principles to Develop Next-Level Leadership at Your Company
-
This Filipino American Founder Is Disrupting the Beverage Aisle by Introducing New Flavors to the Crowded Bubbly Water Market