Apple Pay rolls out new open banking feature for UK customers
Apple Pay has launched a new feature for customers in the UK, allowing them to connect their accounts to eligible debit and credit cards in their Apple Wallet, via open banking technology.
Apple rolls out open banking feature in the UK
With the new feature, UK customers will be able to access their “most relevant” account information regarding their debit card balance and transaction history, including payments, deposits and withdrawals, at the time of making a purchase using Apple Pay in-app or online.
As part of the open banking initiative, Apple says it been “working closely” with banks to make the feature available to multiple financial institutions in the UK, including Barclays, Barclaycard, First Direct, Halifax, HSBC, Lloyds, M&S Bank, Monzo, NatWest and Royal Bank of Scotland.
“By enabling users to conveniently access their most useful account information within Wallet and at the time of their purchase, they can make informed financial decisions and better understand and manage their spend,” comments Jennifer Bailey, vice president of Apple Pay and Apple Wallet.
Bailey adds that by working with UK partners under the open banking initiative, Apple hopes to “help users better their financial health, and provide more ways in which banks can deepen their relationships with customers”.
