Since Apple announced the availability of ApplePay in Malaysia, Visa has confirmed that it partnering with Ambank, Maybank, and Standard Chartered Bank to bring the mobile payment service to its cardholders.
Apple Pay is 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.
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. The mobile payment is accepted in merchant locations worldwide currently enabled with contactless payments acceptance, which includes restaurants, transportation, supermarkets, convenience stores, retail shopping, and many more places.
Ng Kong Boon, country manager for Visa Malaysia said, “The use of digital payments has accelerated over the past two years, fast-tracking Malaysia to becoming a cashless society. Visa is excited to support the introduction of Apple Pay in Malaysia, especially since the country is already well placed in terms of contactless payment acceptance and usage. We believe Apple Pay with its secure, private and easy PIN-less experience will be well-received.”
Security and privacy are at the core of Apple Pay. When customers use their payment card, 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.
“As contactless payments grow, we’re confident smart mobile devices will continue to become an integral part of our daily lives, replacing wallets full of cash. And now with Apple Pay, customers get the added benefit and assurance that their transactions are not just easy and convenient, but also secure and private,” added KB.