First Tennessee to offer payments via Apple Pay

Tuesday 21 October 2014 13:42 CET | News

Financial institution First Tennessee Bank has revealed plans to offer the option of using a First Tennessee debit or credit card within Apple Pay.

Customers will be able to add their credit or debit cards to Apple Pay and then make purchases in stores with an iPhone 6 without swiping the cards or in applications without entering payment and contact information.

With Apple Pay, customers dont share their actual credit and debit card numbers when they make purchases. Instead, a device account number is assigned, encrypted and stored. When a customer makes a purchase, that number along with a transaction-speci?c dynamic security code is used to process the payment. Apple never shares the actual card numbers with merchants or transmits them with payment. In addition, the cashier never sees the customers name, card numbers or security code.

First Tennessee is a subsidiary of First Horizon National. First Horizon National provides financial services through more than 170 First Tennessee Bank locations in and around Tennessee and 27 FTN Financial offices in the US and abroad.

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Keywords: First Tennessee, payments , Apple Pay, debit, credit card, cards, online payments
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime