KUALA LUMPUR: Standard Chartered Malaysia today brings its customers Apple Pay, a safe, contactless, easy way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash - and uses the power of iPhone to protect every transaction.
Standard Chartered said this initiative is aligned to the bank's focus in harnessing the power of digital to transform the banking experience of the future.
It said by introducing Apple Pay to the Bank's broader suite of digital banking services, it is broadening the options for cashless and digital payments for its customers.
Standard Chartered Malaysia's managing director and head of Consumer, Private and Business Banking, Sammeer Sharma, said, "We are proud to be one of the first banks in Malaysia to support Apple Pay to provide easy, secure and private payments to our customers." "With contactless and digital payments in Malaysia going mainstream, we aim to provide an effortless and seamless digital payment experience to complement and enrich our customers' digital lives. Apple Pay gives us an opportunity to be at the forefront of the rapidly growing digital finance ecosystem and supports our ambition to strengthen our local footprint via a digital-first approach," he said.
To use it, customers simply need to hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code.
Apple Pay is accepted at any merchants that support contactless payment, from grocery stores and pharmacies to restaurants and retail outlets.
Besides that, customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information. Apple Pay can also be used to make payments in apps on Apple Watch.
Security and privacy are at the core of Apple Pay. When customers use their Standard Chartered credit cards 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, an industry-standard, certified chip designed to store the payment information safely on the device.