BUSINESS TECHNOLOGY MEDIA COMPANY
Companies
Sectors

Standard Bank adds Apple Pay to contactless payments

Read time 2min 00sec

Big-four bank Standard Bank has now joined its counterparts, making Apple Pay available to its customers.

Apple’s mobile payment and digital wallet service became available in South Africa earlier this year, withbanking institutions Absa, Discovery Bank and Nedbank bringing Apple Pay to their customers.

In August, First National Bank also rolled out Apple Pay for its customers.

With Standard Bank now deploying the service, the bank says the move is in an effort to continue towards a path of digitisation.

It notes Apple Pay gives customers a safer, more secure and private way to pay, helping them to avoid handing their payment card to someone else, touching physical buttons or exchanging cash.

“Customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment,” says the bank in a statement. “Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code.

“Security and privacy are at the core of Apple Pay. When customers use a cheque or credit card with Apple Pay, the actual card numbers are not stored on the device, or on Apple servers. Instead, a unique device account number is assigned, encrypted and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.”

Released in 2014, Apple Pay allows users to make payments in person, in iOS apps, and on the web using Safari. In addition, customers can use Apple Pay on iPhone, iPad and Mac, to make faster and more convenient purchases in apps or on the web in Safari, without having to create accounts or repeatedly type in shipping and billing information.

Apple Pay is accepted in grocery stores, pharmacies, restaurants, coffee shops and retail stores, among other places, says Standard Bank, adding it’s easy to set up.

It explains: “On iPhone, simply open the wallet app, tap +, and follow the steps to add Standard Bank’s cheque or credit card. Once a customer adds a card to iPhone, Apple Watch, iPad and Mac, they can start using Apple Pay on that device right away.”

See also