Mobile Payments

MasterCard Will Bring Apple Pay To Swiss Customers This Summer

by Fintechnews Switzerland June 20, 2016

MasterCard announced that it will bring its Swiss customers and cardholders Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.

Apple Pay allows MasterCard cardholders to use their cards where and how they want with a seamless payment experience. For consumers and merchants alike, that means that every purchase made with Apple Pay will offer the security, benefits and guarantees of any MasterCard transaction. MasterCard is working with several banks and card issuers to enable cardholders to use their MasterCard credit or prepaid cards with Apple Pay.

Security and privacy is at the core of Apple Pay. When you use a credit or prepaid card with Apple Pay, the actual card numbers are neither transferred to Apple, nor stored on the device or on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.’Apple Pay allows consumer to pay easily and securely, wherever contactless MasterCard cards are accepted at POS or Apple Pay is accepted for in app payments, be it in Switzerland or across the globe,’ said Guido Mueller, Country Manager Switzerland. ‘MasterCard was the first in the world to offer contactless and mobile payment solutions, and the Swiss are rapidly adopting this well-established global standard for convenient, secure payment with a tap. In Switzerland, at more than 100,000 locations including Migros, Coop or Kiosks, more than 3 million contactless purchases are made every month, up 100% compared to the previous year[1] .

With this clear shift in payment preferences, we are excited that MasterCard cardholders will soon be able to make payments in store or in app with Apple Pay, knowing that every purchase brings the unrivaled ease and security of NFC payments to mobile payments, together with all the same guarantees and benefits they’ve come to expect from using their MasterCard.’

Apple Pay is easy to set up and users will continue to receive all of the rewards and benefits offered by their card of choice. In participating stores, Apple Pay works with iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus, iPhone SE and Apple Watch. Online shopping in apps accepting Apple Pay is simple, without needing to repeatedly fill out lengthy account forms or type in shipping and billing information. When paying for goods and services within apps, Apple Pay is compatible with iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus, iPhone SE, iPad Air 2, iPad mini 3, iPad mini 4 and iPad Pro.

For more information on Apple Pay, visit here