The Monitor's View Why Apple Pay may help rebuild trust in US finance

Apple's launch of its mobile payment system for stores could crack open a new market, but also show how to retain and expand customer respect for the finance industry.


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Restoring trust in the American financial system since its 2008-09 crisis has taken quite a while. The effort involves more than reform of banks and Wall Street. Trust in commercial institutions remains low. Almost every month, another major retailer is hit by a breach of credit- and debit-card data. Even President Obama, after dining at a New York restaurant last month, had his credit card rejected for a mysterious reason.