The Paypers

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.

NatWest's business credit card customers are offered Apple Pay