Apple Pay launched in the UK recently and a number of banks supported the service at launch, although there were a few missing.
Now two more banks in the UK have added support for Apple Pay, Lloyds Bank and the Halifax both now support Apple Pay.
Expansion of Apple Pay in the UK
There are now a total of 11 banks in the UK which support Apple Pay, you can see these banks listed below.
- American Express
- First Direct
- HSBC
- Halifax
- Lloyds
- NatWest
- NationWide
- MBNA
- Royal Bank of Scotland
- Santander
- Ulster
The addition of Lloyds Bank and Halifax to the list of banks supporting Apple Pay is a significant step forward for the service in the UK. Both banks have a substantial customer base, and their inclusion means that more people can now take advantage of the convenience and security that Apple Pay offers.
Benefits and Future Prospects
Apple Pay allows users to make payments using their iPhone, Apple Watch, iPad, and Mac. It uses a technology called Near Field Communication (NFC) to enable contactless payments. This means that users can simply hold their device near a contactless reader to make a payment. The service also uses a method called tokenization to protect users’ payment information. Instead of transmitting the actual card number, Apple Pay generates a unique token for each transaction, making it more secure than traditional card payments.
One of the UK’s major banks, Barclays, is yet to support Apple’s mobile payment system, although this will be added some time in the future. As yet, Barclays has not given the exact date it will be available. The inclusion of Barclays would be another significant milestone for Apple Pay in the UK, as Barclays is one of the largest banks in the country with millions of customers.
The adoption of Apple Pay by more banks is likely to encourage more retailers to accept it as a payment method. Many major retailers in the UK already accept Apple Pay, including Marks & Spencer, Boots, and Waitrose. The service is also accepted by a growing number of online retailers and apps, making it a versatile payment option for consumers.
In addition to banks and retailers, public transportation systems in the UK are also beginning to accept Apple Pay. For example, Transport for London (TfL) allows passengers to use Apple Pay to pay for their journeys on the Tube, buses, and trains. This makes commuting more convenient for Apple Pay users, as they no longer need to carry a separate travel card or cash.
The expansion of Apple Pay in the UK is part of a broader trend towards digital and contactless payments. According to a report by UK Finance, contactless payments accounted for 27% of all card payments in the UK in 2019, up from 15% in 2018. This trend is expected to continue as more consumers and businesses embrace the convenience and security of digital payments.
The addition of Lloyds Bank and Halifax to the list of banks supporting Apple Pay is a positive development for the service in the UK. With more banks, retailers, and public transportation systems accepting Apple Pay, it is becoming an increasingly popular and convenient payment option for consumers. As the trend towards digital and contactless payments continues, Apple Pay is well-positioned to play a significant role in the future of payments in the UK.
Source 9 to 5 Mac
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