MasterCard will offer its customers access to Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay, when it launches in the UK.
MasterCard has built a foundation for secure mobile transactions made with Apple Pay, to allow consumers to use their cards where and how they want with a seamless payment experience. For consumers and merchants alike, that means that every purchase made with a MasterCard using an iPhone 6, iPhone 6 Plus or Apple Watch will offer the security, benefits and guarantees of any MasterCard transaction.
In shops, consumers can pay contactlessly simply by holding their iPhone near a contactless terminal and authenticating with Touch ID. For purchases within an app, consumers simply touch to pay and authenticate with their fingerprint or passcode for a seamless experience without having to enter their card number or leave the app.
MasterCard is working with several banks, including: HSBC; MBNA; RBS/Natwest and Santander, to enable users of an iPhone 6, iPhone 6 Plus or Apple Watch to use their MasterCard credit, debit or prepaid cards directly through Apple Pay.
Security and privacy is at the core of Apple Pay. When a customer adds a credit or debit card to Apple Pay, the actual card number is not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device.
Apple Pay is easy to set up and users will continue to receive all of the rewards and benefits offered by their payment cards, and the consumer protection afforded by MasterCard remains the same. In shops Apple Pay works with iPhone 6, iPhone 6 Plus and Apple Watch. When paying for goods and services within apps, Apple Pay is compatible with iPhone 6, iPhone 6 Plus, iPad Air 2 and iPad mini 3.
For data, background and forecasts on Apple Pay: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).
