Arbuthnot Latham & Co adopts Apple Pay for clients

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.

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