News

NatWest's business credit card customers are offered Apple Pay

Wednesday 5 August 2020 13:46 CET | News

NatWest has brought Apple Pay to its Business credit card customers, providing a secure and private way to pay.

This is meant to help customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash. Fintech Finance reports that NatWest and its subsidiaries including Royal Bank of Scotland and Ulster Bank have integrated Apple Pay across a range of Mastercard credit and charge cards for its Business and Commercial Banking customer base, complementing the existing range of payment options for SMEs.

As such, customers need to hold their iPhone or Apple Watch near a payment terminal in order to make a contactless payment. Every Apple Pay purchase is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places.

In addition, when customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. 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.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: NatWest, Apple Pay, credit cards, security, payment card, banks, SME, debit cards
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






Industry Events