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Apple apologizes for phishing scam that stole Chinese user IDs
Apple apologized today over stolen Apple IDs that were used to make unauthorized App Store purchases in China. The Wall Street Journal reports that the IDs were obtained through phishing scams. Users had connected their Apple accounts to mobile payment systems Alipay and WeChat Pay; these IDs were then used to purchases through the App Store. "We are deeply apologetic about the inconvenience caused to our customers by these phishing scams," Apple said in a statement to its Chinese users.
Stolen Apple IDs reportedly used for mobile payment theft in China
Users of two major mobile payment services in China -- Alipay and WeChat Pay -- have reported unauthorized Apple App Store spending in recent days, with some losing nearly $300 through fraudulent transactions. The companies say that stolen Apple IDs are to blame, the Wall Street Journal reports, and Alipay has asked Apple to investigate. In the meantime, Alipay is telling its customers to minimize potential losses by reducing how much money can be used from their accounts without a password.
China will cap QR-code payments to tackle fraud
China's central bank is issuing regulations over QR-code-based payments. Paying for things by scanning a barcode with the Alibaba or WeChat app is more common than using cash in the region and now the government wants to keep closer tabs on where the money is going. You might laugh at the idea, but QR codes aren't the punchline in the east that they are here. For instance, plenty of cabbies prefer taking QR payments because it means they don't have to handle small change.
China’s WeChat Pay comes to London
Walk around Camden Market this weekend and you'll notice that many of the stalls now support WeChat Pay. The mobile payment platform — an extension of Tencent's messaging app WeChat — is big in China but almost unheard of in the UK (at least outside of the Chinese community). So why bother? Well, the north London market is popular with Chinese tourists. SafeCharge, a company that helps businesses process payments, took notice and has updated its point-of-sale (POS) software accordingly. Now, stall owners can accept WeChat Pay with a tablet and compatible till.
