Private and commercial bank Arbuthnot Latham & Co. is allowing its clients to use Apple Pay.
The bank, established in 1833, said the payment option was a “safer and more secure” way to pay, as it helped clients avoid having to hand over their payment card to someone else, and avoided them having to touch physical buttons or exchange cash.
They can instead use their iPhone or Apple Watch to complete transactions when out and about, or make purchases with their iPad or Mac when online shopping.
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.
Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element, a certified chip designed to store the payment information safely on the device.
Latest News
-
BBVA pushes ahead with Sabadell takeover despite government merger restrictions
-
Yonder rolls out debit cards
-
Klarna integrates services into Bolt payment platform
-
Monzo top UK bank for SME current account switch gains in 2024
-
UK regulator says Mastercard and Visa are breaking competition law
-
Kraken launches global money app
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories