When CEO Tim Cook touted Apple's new mobile payments service as "easy, secure and private," he was at least partially addressing public concerns over the company's security infrastructure in light of recent high-profile hacks.
And while Apple Pay has yet to be put to a real-world test, some security experts--despite generally praising Apple's move as a step in the right direction--have already identified some potential risks inherent in the system.
"If correctly implemented it could add security benefits, but there could also be some gaping security flaws," said Chris Carlis, a security consultant for Trustwave. "We will see how it survives the initial contact with the enemy. .. It's not going to be a magic bullet that fixes fraud and security."
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