Apple Pay is packed with security features that make your transactions safe and secure. Aside from top-notch encryption and optional two-factor authentication, it offers a chip-based technology called Near-Field Communication (NFC). However, Apple Pay statistics showed some worrying trends in the past. The fraud rate related to transactions with this payment service reached a whopping 6% in 2015, 60 times the average credit card fraud rate. Most of these frauds resulted from Apple making it too easy to load up the system with stolen credit cards, rather than any security fault on the payment processing side of things.