Apple Pay Is Here But How Secure Is It? Security Researcher Reveals Touch ID Still Poses A Problem

Is Apple Pay safe? Are there any known security issues? With this week's release of iOS 8.1, came also the launch of the Apple Pay system – a new NFC payment system that allows users to make purchases in stores, online and through apps with just the press of a finger on the Touch ID. While many users are excited about the ease of payment now available on iPhone 6 and above running iOS 8.1, it does come with some reservations by those within the security community. After all, with the introduction of the Apple Pay system, users can now easily authorize large purchases amounting hundreds or even thousands of dollars with a simple touch.

Are there negative implications for such powerful authorization ability? What are the weaknesses in such a system, and how might they be exploited by neer-do-wells?

In a presentation at HITB Malaysia 2014, Marc Rogers, long-time threat intelligence expert and current Principal Security Researcher at Lookout Mobile Security, expounded upon the possible security issues that could arise with the integration of Apple Pay and the Touch ID, while offering possible solutions for making the system more secure.