With the recent general availability of the iPhone 6 with Apple Pay and Tesco's announcement of a digital wallet, Russ Spitler, VP of product strategy for security firm AlienVault says:
"Apple has done a lot with their new payment system. The major breaches we have seen in the last few months would have been addressed if all of the customers had used Apple Pay or similar payment wallets. This is a major move for the payment industry, while the underlying technology is not new, Apple has the market share and mind share to make it popular. Shifts in payment technology are driven by consumer demand, not retailer preference and with the introduction of this system we might actually see the consumer demand for a new payment system start to move the needle. In the past, Apple has proven to manage private data very responsibly - they take encryption seriously and implement it well. They are still prone to attacks against their users such as the recent iCloud issues - but they are working to add more features to help safeguard even in that situation. With Apple Pay I am hopeful we will turn the corner on the horrible status quo of credit cards."