18.9 C
London
Sunday, May 26, 2024
HomeBankingApple Pay rolls out new open banking feature for UK customers

Apple Pay rolls out new open banking feature for UK customers

Date:

  • New Apple Pay Feature in the UK: Open Banking
    • Apple Pay introduces a new feature in the UK.
    • Allows customers to link their accounts to eligible debit and credit cards in Apple Wallet via open banking technology.
  • Access to Relevant Account Information
    • UK customers can view “most relevant” account details during Apple Pay transactions.
    • Information includes debit card balance, transaction history, payments, deposits, and withdrawals.
  • Collaboration with Financial Institutions
    • Apple collaborates with multiple UK banks for the open banking initiative.
    • Participating institutions include Barclays, Barclaycard, First Direct, Halifax, HSBC, Lloyds, M&S Bank, Monzo, NatWest, and Royal Bank of Scotland.
  • Informed Financial Decisions
    • Users can conveniently access crucial account information during purchases.
    • Aims to empower users to make informed financial decisions and better manage their spending.
  • Apple’s Perspective on the Initiative
    • Jennifer Bailey, VP of Apple Pay and Apple Wallet, emphasizes the goal of helping users improve their financial health.
    • Apple aims to strengthen relationships between banks and customers through the open banking initiative.

Related stories

FE fundinfo snaps up wealth management fintech Dericon

Acquisition Details:Acquirer: FE fundinfo, a UK-based financial...

LGT in Liechtenstein taps Finastra for instant payments

Partnership Announcement:Entities Involved: LGT (private banking and...

Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion

Overview:Acquirer: Spanish paytech PayRetailers. Target: Transfeera, a Brazilian...

Santander and Iberpay in Spain join EPC’s OCT Inst scheme as inaugural participants

Overview:Participants: Spanish banking giant Santander and payment services...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img