Perhaps mindful of skeptics after the recent iCloud security debacle, Apple was careful to stress how secure and safe the system is.
“Security and privacy is at the core of Apple Pay. When you’re using Apple Pay in a store, restaurant or other merchant, cashiers will no longer see your name, credit card number or security code, helping to reduce the potential for fraud,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “Apple doesn’t collect your purchase history, so we don’t know what you bought, where you bought it or how much you paid for it. And if your iPhone is lost or stolen, you can use Find My iPhone to quickly suspend payments from that device.”
Read more at http://www.cultofmac.com/294854/apple-pay-just-killed-wallet/#VjgelHkgJ7OgfV74.99