You can rest assured that your money is safe with Apple Pay. It doesn't store your card number, expiration date, or CVV, and it doesn't share them with the merchant while checking out.
Instead, it creates an encrypted one-time code for each transaction. It can't be intercepted or decoded during the process.
Making a purchase with Apple Pay is even safer than using your card. As the cashier won’t have a hold of your card, the card information won’t be exposed.
Additionally, to execute any transaction, you’re required to verify your identity through FaceID, fingerprint, or passcode.
What Happens If I Lose My Phone?
We understand that it’s a nightmare to lose your phone. You can use Apple’s Find My iPhone to locate your device, and until you hopefully find it, you won't have to worry about someone using your Apple Pay.
No one will be able to carry out any transactions with your Apple Pay as it requires verification with TouchID, FaceID, or passcode. So, unless someone knows your passcode, your money is completely safe.