Apple Pay Coming 10/20 for MasterCard Cardholders
October 16 2014 - 2:36PM
Business Wire
An Easy, Secure and Private Mobile Payment
Experience for Purchases In Apps and In Stores
Faster, more secure everyday payments. That’s Apple Pay. That’s
Priceless. Today, Apple (NASDAQ:AAPL) announced that Apple Pay
will available for U.S. consumers via the iOS 8.1 update
on Monday, October 20th. With 8.1, Apple Pay will be available to
MasterCard cardholders on their iPhone 6, iPhone 6 Plus, iPad Air 2
and iPad mini 3.
MasterCard Apple Pay (Photo: Business
Wire)
The MasterCard Digital Enablement Service (MDES) enables
MasterCard consumer credit or debit cardholders to use Apple Pay.
In building a secure payment experience, Apple Pay leverages
industry-standard EMV cryptography to ensure transactions can take
full advantage of the most secure payments technology in the world.
In order to further protect consumers, Apple Pay incorporates
additional security features such as Touch ID or a passcode to
authorize every payment and tokenization via MDES.
At a store, consumers can simply pay by just holding their
iPhone near a contactless reader with their finger on Touch ID or
enter a passcode and their transaction will be authenticated
in seconds. For purchases within a merchant app,
consumers will simply touch to pay and authenticate
with Touch ID or passcode for a quick and seamless shopping
experience.
Owners of the new iPhone 6, iPhone 6 Plus, iPad Air 2 and
iPad mini 3 will be able to use their MasterCard consumer credit
or debit cards from Bank of America, Capital One, Citi
and Wells Fargo through Apple Pay starting October
20th. Cardholders with a MasterCard consumer credit or debit
card from Barclaycard, USAA, PNC, Navy Federal
Credit Union, US Bank, Fifth Third, First
Hawaiian, First National Bank of Omaha, First Niagara, Key
Bank, Silicon Valley Bank, SSFCU, SunTrust and Synchrony
Financial, among many others will be able to use Apple Pay in the
coming months. MasterCard is also working with its extended
customer base and to date has signed hundreds of issuing
partners whose consumer credit and debit cards will soon be
capable of being loaded into Apple Pay for simple, secure
everyday payments.
MasterCard cardholders will be able to make simple
and secure payments for physical goods and services in the
apps of top merchants including MLB, Panera Bread,
Staples and Target. Contactless payments will be accepted
today in stores at some of the most frequented U.S. retailers
including Subway, Toys R’ Us, Walgreens, Whole Foods Market
and all Apple Store retail locations in the US. To help
consumers take advantage of Apple Pay, MasterCard has
developed the MasterCard Nearby app, available in
the App Store, which helps you easily find merchants near
your current location that accept contactless payments.
“The simplicity of Apple Pay is what makes it
compelling,” said Ed McLaughlin, chief emerging payments
officer, MasterCard. “Along with simplicity, it is important
that MasterCard cardholders enjoy a secure and private
experience – along with all the rights and privileges of a
genuine MasterCard transaction. We worked closely
with Apple toward a vision of building a user-friendly,
secure payment experience and delivered on that vision by
providing the most secure combination of
payment technologies ever deployed in Apple Pay to the
benefit of our cardholders.”
For more information on Apple Pay,
visit: http://www.apple.com/apple-pay/.
About MasterCard MasterCard (NYSE:MA),
www.mastercard.com, is a technology company in the global payments
industry. We operate the world’s fastest payments processing
network, connecting consumers, financial institutions, merchants,
governments and businesses in more than 210 countries and
territories. MasterCard’s products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews, join
the discussion on the Cashless Pioneers Blog and subscribe for the
latest news on the Engagement Bureau.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20141016006280/en/
MasterCardSarah Ely914-249-6714 – office914-325-4716 –
mobileSarah_Ely@MasterCard.com
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