News

WeLab Bank introduces Apple Pay option

Wednesday 16 June 2021 11:08 CET | News

WeLab Bank, a digital bank authorised by the Hong Kong Monetary Authority (HKMA), has introduced an Apple Pay option for its clients.

It allows clients to not have to hand over their payment cards to someone else, helping customers avoid touching physical buttons or exchanging cash. Customers just have to hold their iPhone or Apple Watch close to a payment terminal in order to make a contactless payment.

Moreover, when clients use WeLab debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers, a unique device account number getting assigned, encrypted, and stored in the Secure Element, which is an industry-standard 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: digital banking, banks, Apple Pay, debit card
Categories: Banking & Fintech
Companies:
Countries: Hong Kong
This article is part of category

Banking & Fintech






Industry Events