According to Intesa Sanpaolo, Apple Pay adds another important step to the digital transformation process undertaken by the bank, confirming its intention of playing a part in mobile payments.
When a customer uses a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and stored in the Secure Element on the customer’s device. Each transaction is authorised with a one-time unique dynamic security code.
Earlier in 2018, following a new partnership with Apple, Costco has started supporting Apple Pay mobile payment service across 750 stores in the US.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright