An estimated 45.4 million people in the US utilize Apple Pay, a mobile payment system. In 2026, the number is expected to increase to an estimated 56.7 million, according to an Oberlo article.
Whether it is safe or not, using Apple Pay is undoubtedly safer than using cash. Additionally, if the account owner activates all of its security safeguards, it ought to be safer to use than plastic.
Apple Pay Safety Features
Any business, website, or app that accepts Apple Pay can be used to complete a transaction. Users can also send and receive money via texting from other users.
Each transaction incorporates a number of security measures:
- It makes use of near-field communication (NFC), a chip-based technology that allows for connection with card readers without physical contact. You keep the card in your wallet.
- The user can use two-factor identification, such as fingertip or face ID and a passcode, to complete transactions. It is optional to use fingertip or facial ID.
- Apple recommends users to pick a challenging passcode. As with two-factor identification, it can’t prevent you from using your cat’s name as a passcode. Consequently, this security advice is optional.
- You never provide the merchant with the actual card account number. (Apple is also unable to access it.)
- Transactions are processed using a tokenization technique. In other words, a special encrypted code is generated for a single use. To authorize the transaction, a code rather than your account number is supplied.
- Apple Pay can be disabled via the iCloud system if the user ever believes that the account has become unsecure.
Apple guarantees that card information will never be transferred across the cloud. This increases the security of the service even if users must manually input their card information into each device.
What Could Go Wrong?
It goes without saying that hackers trying to breach Apple Pay’s security barriers constantly attack it and its rivals. These efforts appear to have so far revealed vulnerabilities produced by users rather than Apple.
According to an unconfirmed source, Apple Pay may make it simpler to use stolen identities for profit. In other words, a thief might easily transfer stolen data, such as credit card numbers, into an iPhone and go on a spending binge. (In reality, the bank that issued the card that was stolen would be liable for this, not Apple.)
A White Hat Attack
Another unsubstantiated allegation asserts that “white hat” hackers were able to infect a device with malware and then decrypt payment information before it was submitted by an iPhone user and transmitted to the Apple server. Only “jailbroken” iPhones, or those whose firmware has been altered, can perform this.
Nydoz (payment method)
Nydoz has increased its payment options to include the popular and practical Apple Pay in addition to the other payment choices accessible to investors. This gives investors the freedom to select their chosen payment method for investing in the company’s many goods and services.
