How do I verify and report a suspicious Apple Pay payment authorization text?

That’s a phishing attempt from scammers and it’s literally been reported 100’s of times if not 1000’s. 

Apple would never contact you. Your bank (issuer of card) would contract you. Banks do the exact opposite of the message you received. If they suspect fraud the transaction is stopped immediately. You have to call to verify the transaction, not call to stop the transaction. 

“Don't answer suspicious phone calls or messages claiming to be from Apple. Instead, contact Apple directly through our official support channels.”

”To report a suspicious SMS text message that looks like it's supposed to be from Apple, take a screenshot of the message and email the screenshot to reportphishing@apple.com.”

You can report phishing at these links and most importantly your local law enforcement.

Identify legitimate emails from the App Store or iTunes Store.

FTC Complaint Assistant

FBI’s Internet Crime Complaint Center

Learn about how not to be a victim of Social Engineering.

Recognize and avoid social engineering schemes including phishing messages, phony support calls, and other scams - Apple Support

richkrys wrote:

when will these folks be prosecuted??

Wouldn't hold your breath on that one:

• Sending address is "spoofed"
• Real IP Address can be hidden behind VPN/Proxy
• No identifiable information is needed to create an email address.
• Multiple accounts are used, so even if a Mail Server shut them down, all they need to do is create a new one.
• No indication they are even based in the US and could originate in any part of the world.
• FBI may be able to track them down with enough resources, but don't seem too concerned about it.