08 June 2015
- Offering an Easy, Secure & Private Way to Pay
Nationwide Building Society 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.
Nationwide customers will soon be able to use their credit and debit cards with Apple Pay to make purchases within apps and pay at contactless points across the country.
Supporting Apple Pay is the latest in a number of innovative customer focused developments from the Society, including the roll out of wearable technology, upgrades to its Mobile Banking App and the expansion of Nationwide Now as part of a £500 million investment in its branch network.
Security and privacy is at the core of Apple Pay. When you add a credit or debit card to 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 on your device. Each transaction is authorised with a one-time unique dynamic security code, instead of using the security code from the back of your card.
Tony Prestedge, Nationwide’s Chief Operating Officer, said: “Over the last year we have seen developments in mobile technology cement digital banking as an essential part of our members’ daily lives. Millions of our members are using our mobile banking apps, online services and paying with our contactless cards across the country. With Apple Pay, Nationwide customers will have even greater choice offering more ease, security and privacy in the way they purchase goods and services, highlighting the Society’s commitment to finding new innovative ways to help members manage their money at a time, in a place and in a way which suits them.”
Nationwide has a long history of innovating to respond to the evolving needs of its members. In 2014, Nationwide became the first high street provider to offer customer service 24/7 with our @AskNationwide Twitter Team, became the first financial services provider in the UK to offer a wearable banking app which will be rolled out to Apple Watch this Summer and in 1997 was first to offer internet banking in the UK.
Apple Pay is easy to set up and users will continue to receive all of the rewards and beneﬁts offered by credit and debit cards. In stores, 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.