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In response to "question for st. does apple pay basically create a one time use code for your purchase, so that even if a store is hacked, they dont get your actual " by Truman

From what I read pre-launch, yes Apple Pay is one time codes.

Not cure about the chipped cards, I think their security comes from two factor authentication (something you have = card and something you know = pin) but can't be sure.

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