The Sparkassen will offer the first financial institution in Germany, your customers can pay with Apple Pay, your Girocard use. So far, the most popular Smartphone payment method could be used only in connection with a credit or debit card. The Girocard is supposed to come "late summer" with Apple Pay, as the savings banks Finance group announced on Wednesday in Berlin.
In Germany are Debit, which are referred to by many colloquial with the in 2007, abolished brand name debit card, is significantly more popular than classic credit and debit cards from Mastercard, Visa and similar providers. Savings banks-credit cards Visa and Mastercard can already be found since the middle of December 2019 to Pay with Apple Pay is used.Safe and contactless
With Apple pay, customers can pay with the iPhone and the Computer at the Apple Watch at the checkout as with a contactless card. In addition, the payment method can be used in the Web. The users of free the transactions from the iPhone-face recognition, Face ID, or the fingerprint Scanner. As a result, the fraud rate is for Apple and the participating banks is virtually Zero.
When contactless payments, the NFC Chip in the iPhone or the Apple Watch comes in. Access to him, the banks have only about Apple Pay, and a special high-security Chip in the device called the Secure Element. The use of Apple Pay, the actual numbers are stored neither on the device nor on Apple's servers, said the credit card companies Mastercard and Visa. "Instead, a unique device number assigned, encrypted and securely hidden on the device. Each transaction is authorized with a unique dynamic security code."more and more contact use contactless payments
The mass distribution of contactless Debit of the savings Bank customers had in recent years contributed significantly to contactless payment terminals were introduced in the German trade. From this technical infrastructure are also users of the Smartphone can now benefit-payment methods such as Apple Pay and Google Pay. Currently, 43.7 million of the 45.8 million savings Bank Debit contactless capable (95.6%) are. By the end of 2020, nearly all Sparkassen-Cards with the Contactless function. In may, 56.6 percent of the Girocard payments of the savings banks customers were contactless.
The savings banks had responded by the end of 2018 is still cautious on Apple Pay. But soon the cheering messages of the first Apple Pay partners made the rounds. At Deutsche Bank you could hear, the expectations had been greatly exceeded. Financial institutions that were not close to the Start, had to listen to, however, complaints of their customers.
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