The fraud risks of Apple Pay are an important consideration for users

Apple Pay may revolutionize the way commerce operates. By allowing customers to pay by tapping the touch screens of their iPhones, transactions will be effortless. The simplicity allows customers on the run to quickly complete transactions that spread the convenience of smart phone apps to our wallets.

Unfortunately, Apple Pay does have some innate risks. Like any financial system, fraud is an important concern. Financial consultants estimate that the incidence of fraud that Apple Pay faces may be as high as 8%. 

"It is both a bank and an Apple problem… but since Apple controls the platform, they can dictate the best practices," said Mike Dudas. Dudas was a former executive at Google who oversaw the development of its answer to Apple Pay: Google Wallet.

Securing financial transactions is important for the success of Apple Pay. Encryption technologies provide ecommerce vehicles with web security so that the financial information of clients will not be compromised. Ecommerce companies that utilize web hosting services that provide SSL encryption improve their ability to retain customers by proving that they value their privacy.

IT consulting is an important facet of planning the development of a website. Security considerations can be weighed by expert professionals whose experience can be applied to improve the domains that host a website.

MC Services provides IT consulting to ecommerce enterprises during a time where financial transactions are taking place online at an increasing rate. In doing so, digital financial transactions can be done with the convenience and security that is necessary to sustain the viability of services like Apple Pay. In doing so, a company can put itself in a position to handle the diversifying face of commerce.