What Apple Pay means to Bank of America: Security

11 years ago

Hari Gopalkrishnan, Bank of America’s e-commerce executive, talks about what Apple Pay means for the firm and its customers. He spoke with Bloomberg’s Leslie Picker at the Bank of America Merrill Lynch Technology Innovation Summit in Menlo Park, California on Oct. 22.

Today we have data breaches happening. We don’t want our customers storing their credit card information out in places we don’t trust. But at the same time we want to make our customers have frictionless shopping experiences. When you see those two things come together, what we worked on with Apple is a construct that lets you securely maintain your credit card information in a way that doesn’t store it all over the place. And yet when you want to shop, with the touch of your finger, you authenticate with the phone and can make that information available to the appropriate merchant without anybody seeing that information in the clear. — Hari Gopalkrishnan, Bank of America

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Direct link to video here.

[Thanks to MacDailyNews Readers “Fred Mertz,” “Sarah,” and “Dan K.” for the heads up.]