Apple Pay launches in Britain, Barclays signs up- Convenient and quickest way, as Apple Pay launches in Britain after a sign up of major UK bank.
Apple is the world’s second-largest information technology company. Now, it offers service known as Apple Pay. A mobile payment and digital wallet service by Apple that lets users make payments using the iPhone 6, iPhone 6 Plus
This lets certain Apple mobile devices make payments at contactless points of sale and in iOS apps. Keeping privacy of customer information from retailer, with security code for each transaction.
Currently Apple Pay introduced its service to Britain. As last major UK bank Barclays sign up, Tuesday.
NatWest, Royal Bank of Scotland, Banco Santander were among the first banks to offer Apple Pay to their clients, eventually be supported by all major bank in the country.
Banks are expected to carry the burden of the service, and Apple is said to have a negotiated smaller transaction fee.
According to Jennifer Bailey, vice president of Apple Pay, “We actually think that the UK can be our leading market for Apple Pay, given the unique characteristics (of the market)”.
In UK, payments using contactless cards are limited for they have only one-factor authentication.
Although payments using Apple Pay have two-factor authentication, therefore have no transaction limit
This are in practice subject to the same transaction limits until retailers upgrade the software in their terminals to support the latest network contactless specifications.
An analyst at Forrester Research, Benjamin Ensor said, “We have been surprised that so many banks have signed up to support Apple Pay,””It’s worth asking what Apple Pay brings that the banks can’t do themselves.”
This service aims to bind customers more tightly to its phones and other devices while also taking a bank transaction fees on each payment made.