Originally Posted by
GoodOmens
Also as a side note ApplePay - it sends two numbers from the phone with each transaction - the Device Number and a one time token. The device number is the same with every transaction and the one time token is used by the bank to verify the transaction is valid.
From what I am seeing the "Device Number" is really nothing more than a separate credit card number that is tied the the main/physical card on the issuer end. I am not completely sure though. From Apples' documentation, it appears that the issuer is able to only allow transactions on that "card" number in conjunction with the one time token. More info from Apple here -
http://support.apple.com/kb/HT6323?viewlocale=en_US