30 June 2015

A new, secure way to pay, to be unveiled across the UK

True to its trailblazing reputation, Apple Inc. is due to launch a new means of payment in the UK that will transform payments at tills on the high street and in app.

Apple Pay will change how you pay with breakthrough contactless payment technology and unique security features built into iPhone 6, Apple Watch, iPad Air 2 and iPad mini 3. So you can pay in an easy, secure and private way.

This innovative technology is the next exciting step in contactless payments, and it's extremely secure too. Users are able to add their credit and debit card details to the passbook on their compatible Apple device. When shopping in participating stores, rather than leafing through their wallet to pick out their payment card, they then simply select their card of choice from their ‘digital wallet’ on their Apple device. To make the payment, it’s just a matter of holding the device next to a terminal and pressing Touch ID.

Apple Pay is an extremely secure way to pay as the actual credit or debit card numbers are not stored on the device itself, nor on any Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element (a dedicated chip) of the user’s Apple device. Each transaction is authorized with a one-time unique dynamic security code, instead of using the security code from the back of their card.

Participating financial institutions

Nationwide Building Society will be one of the first financial institutions to offer Apple Pay, with a number of other high street institutions also adopting the service when it launches.

The move comes as a natural progression for Nationwide, as Tony Prestedge, the Building Society’s Chief Operating Officer, explains: “With Apple Pay, Nationwide customers will have even greater choice offering more ease, security and privacy in the way they purchase goods and services.”

Apple Pay is easy to set up, and to get started users simply add the credit or debit card from their iTunes account to their Passbook. Users will continue to receive all the rewards and benefits they enjoy with their respective credit and debit cards. In stores, Apple Pay works with iPhone 6 and Apple Watch. When paying for goods and services within apps, Apple Pay is compatible with iPhone 6, iPad Air 2 and iPad mini 3.

Working with Apple Pay is just one of the ways Nationwide is harnessing cutting edge technology to help its members. As Prestedge says, the development highlights “The Society’s commitment to finding new innovative ways to help members manage their money at a time, in a place and a way which suits them.”

Apple, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay, Apple Watch and Touch ID are trademarks of Apple Inc.

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