rachapman

I believe this is a technical limitation. The main reason Apple Pay is reasonably secure is that it stores its private secrets in a non-read section of memory in the secure enclave, which is really just a JavaCard chip made by NXP. When I say non-read, I mean the phone cannot ask the secure enclave "tell me the Apple Pay secret." Instead, it says "please sign this request from the payment terminal with the Apple Pay secret." Big difference. Now, there is very limited memory in that secure enclave (think kilobytes), probably enough to put maybe 3 to 10 different payment solutions programs, called applets, on it. So until NXP starts making chips with alot more memory in them, Apple has a solid argument in my opinion.