A number of major banks in the UK already support Apple’s new mobile payment system, Apple Pay, although there are still a few banks that have yet to offer the service.
Barclays Bank is one of the UK’s major banks that does not support Apple Pay at the moment, although the company is apparently working on it and will support the service next year.
Mike Jobson emailed the CEO of Barclays in the UK about the lack of support for Apple Pay, you can see the response he got below.
We have signed up for ApplePay and will launch it very early in the New Year. We truly value your custom and hope that you continue to bank with us particularly since we are launching this shortly.
So there we have it, Barclays will apparently support Apple’s mobile payment service from next year, the company had previously said the service would launch soon.
What is Apple Pay?
Apple Pay is a mobile payment and digital wallet service by Apple Inc. that allows users to make payments using an iPhone, Apple Watch, iPad, or Mac. It digitizes and replaces the credit or debit card chip and PIN or magnetic stripe transaction at point-of-sale terminals. It is similar to contactless payments already used in many countries, with the addition of two-factor authentication via Touch ID, Face ID, PIN, or passcode. Apple Pay does not require Apple Pay-specific contactless payment terminals; it works with any merchant that accepts contactless payments.
Why Barclays’ Support Matters
Barclays is one of the largest and most influential banks in the UK, and its support for Apple Pay is significant for several reasons. Firstly, Barclays has a vast customer base, and enabling Apple Pay will provide these customers with a convenient and secure way to make payments. Secondly, Barclays’ support could encourage other banks that have been hesitant to adopt the technology to follow suit, further increasing the adoption of mobile payment systems in the UK.
The delay in Barclays’ support for Apple Pay has been a point of frustration for many of its customers, especially given that other major banks like HSBC, Lloyds, and NatWest have already integrated the service. The confirmation from Barclays’ CEO that the bank will launch Apple Pay early next year is a positive development for those who have been eagerly awaiting this feature.
In addition to the convenience and security that Apple Pay offers, it also supports loyalty programs and rewards. Users can add their loyalty cards to the Wallet app and continue to earn points or rewards when they use Apple Pay at participating merchants. This integration of payment and loyalty programs can enhance the overall shopping experience for consumers.
Moreover, Apple Pay’s security features are a significant advantage. When a user makes a purchase, Apple Pay uses a device-specific number and unique transaction code. This means that the user’s card number is never stored on the device or on Apple servers, and it is never shared with merchants. This added layer of security can help protect users from fraud and unauthorized transactions.
As mobile payment systems like Apple Pay continue to gain popularity, it is essential for banks to stay competitive by offering these services to their customers. The adoption of Apple Pay by Barclays will likely be a welcome development for many of its customers and could help the bank retain and attract new customers who are looking for modern and convenient payment options.
In conclusion, while Barclays has been slower to adopt Apple Pay compared to some of its competitors, the confirmation that the service will be available early next year is a positive step forward. As more banks and merchants support mobile payment systems, the convenience and security of services like Apple Pay will continue to drive their adoption and usage.
Source Techradar
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