Bernice Napach on how Apple Pay works better than the traditional credit and debit card methods for payments:
The app uses chip and pin technology, instead of the magnets that credit cards currently use, to keep information secure. The chip generates a one-time authorization code for each purchase and the pin is the unique number a consumer will have to tap into a retailer’s credit card reader for each purchase.
The biggest obstacle to a more secure credit card system isn’t the card, or the iPhone, or Apple Pay’s adoption. It’s the data readers.