Offering an Easy, Private and Secure Way to Pay
Dubai, UAE 24 October 2017: Mashreq Bank, the leading financial institution in the UAE, today brings its customers Apple Pay, which will transform the mobile payments landscape in UAE with an easy, secure and private way to pay that’s fast and convenient.
Digital Payments is one of the key focus areas for Mashreq and we are proud to bring the ease and convenience of Apple Pay to our customers. Mashreq Bank is also one of the leading acquirers in the region and have worked closely with the Merchant partners to enable the best card acceptance journey with Apple Pay at more than 35,000 locations in UAE.
Security and privacy are at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor 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.
Pankaj Kundra, Head of Payments & Personal Banking at Mashreq, commented, “Mashreq is constantly innovating in order to provide customers with the best solutions for their needs. Apple Pay allows us to offer greater security and convenience while encouraging customers to embrace digitized payment transactions. As a market leader at the forefront of global payment trends, Apple Pay is one of the key features of our digital strategy. ”
Apple Pay is easy to set up and use. The customer will continue to receive all of the rewards and beneﬁts offered by their credit and debit cards. In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch.
Online shopping in apps and on websites accepting Apple Pay is as simple as the touch of a finger with Touch ID, so there’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information. When paying for goods and services on the go in apps or Safari, Apple Pay works with iPhone 6 and later, iPhone SE, iPad Pro, iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch, or with Touch ID on the new MacBook Pro.