In the News
In-app payments can now be a bit simpler. In You can now use Apple Pay for iTunes, App Store, Apple Music, and more, Dami Lee at The Verge discusses the integration of Apple Pay on Apple hosted app services such as Apple Music and the App Store. Lee also explains that Apple Pay now allows customers to add multiple credit cards to their account.
Our Take
Mobile payments are becoming an increasingly popular way to shop both in person and online. With so much of our daily lives digitalized, having a simple way to pay for apps, services, and in–person products is a saving grace for many people. Although security practices for mobile payments have seen recent advances, storing payment information that connects to your bank account on a mobile app still poses many risks. To mitigate the risk of your financial information being exposed, it is crucial to proceed with caution when using mobile payments. Always protect your host platform with the proper security measures and a strong password. Additionally, be sure to research products and subscriptions before making a purchase…always check that they are legitimate.
Recommendations
How can you protect the privacy of your financial information?
- Don’t reuse your account passwords, and take advantage of multi-factor authentication whenever possible
- Minimize the number of accounts that have direct access to your bank account or card numbers
- Utilize additional security/privacy measures and settings on apps, accounts, and platforms whenever possible
- Check your email, financial accounts, and credit reports regularly for abnormal activities