Apple Pay rolls out new open banking feature for UK customers

  • 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.
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