You’re only as secure as your weakest link. That bit of wisdom has hit home for Apple Pay of late. Fraudsters have wasted no time finding and exploiting the mobile payment system’s weak link to their advantage.

The weak link is not in the transaction side of things. That part, as I’ve described, still appears to be quite solid, thanks to Apple having taken heed of a myriad of security architectural principles, like keeping the actual credit card account number out of the view of merchants.

What the fraudsters have gone after is the process of installing a credit card into an Apple Pay-equipped iOS device. And that part of the process is implemented by the issuing banks, not by Apple.

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