Apple Pay™ Now Available for Morgan Stanley Wealth Management’s Debit Card Clients
February 25 2015 - 9:00AM
Business Wire
Offers Cardholders an Easy, Secure and Private Way to
Pay
Morgan Stanley Wealth Management announced today that, using
their iPhone® 6/6Plus, clients can add their Morgan Stanley Debit
Card to Apple Pay to pay for purchases in stores or within apps.
Once the Morgan Stanley Debit Card is securely added to Apple Pay,
clients can hold their iPhone® 6/6Plus near the contactless reader
and, with the touch of a finger, the payment is made. When shopping
within apps on their iPhone 6/6Plus, iPad Air®2 and iPad mini™ 3,
checking out can be as easy as selecting Apple Pay and placing a
finger on Touch ID.
Morgan Stanley Wealth Management clients’ account security is a
key priority for the firm, and the Apple Pay feature, which does
not share the actual debit card number with the merchants or
transmit it with payments, supports that goal. Instead of using the
Morgan Stanley Debit Card number, Apple Pay assigns a unique Device
Account Number that is encrypted and stored in the secure element
on the mobile device. Each transaction is authorized with a
one-time unique dynamic security code, instead of using the three
digit code from the back of the card. If the client’s device is
replaced, lost or stolen, the Morgan Stanley Debit Card information
remains safeguarded.
“Offering our wealth management clients the opportunity to use
Apple Pay complements our full suite of cash management solutions,”
said Eric Heaton, Head of Morgan Stanley’s Private Banking Group.
“We will continue to explore and leverage the newest technology to
best meet our clients’ expanding needs for flexibility and ease,
while ensuring that these solutions are safe and secure.”
Morgan Stanley Wealth Management, a global leader, provides
access to a wide range of products and services to individuals,
businesses and institutions, including brokerage and investment
advisory services, financial and wealth planning, banking and
lending, cash management, annuities and insurance, retirement and
trust services.
Morgan Stanley (NYSE:MS) is a leading global financial services
firm providing investment banking, securities, investment
management and wealth management services. With offices in more
than 43 countries, the Firm's employees serve clients worldwide
including corporations, governments, institutions and individuals.
For further information about Morgan Stanley, please visit
www.morganstanley.com.
Apple Pay, visit www.apple.com/apple-pay.
The Morgan Stanley Debit Card is currently issued by UMB Bank
n.a., pursuant to a license from MasterCard International
Incorporated. MasterCard and Maestro are registered trademarks of
MasterCard International Incorporated. The third-party trademarks
and service marks contained herein are the property of their
respective owners.
Apple Pay™ is only available on Morgan Stanley Debit Cards
issued in the continental U.S.
Apple®, iPhone®, and iPad Air® are trademarks of Apple Inc.,
registered in the U.S. and other countries. Apple Pay™ and iPad
miniTM are trademarks of Apple Inc.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer,
Member SIPC, and not a bank. Where appropriate, Morgan Stanley
Smith Barney LLC has entered into arrangements with banks and other
third parties to assist in offering certain banking related
products and services. Investment services are offered through
Morgan Stanley Smith Barney LLC.
Unless specifically disclosed in writing, investments and
services offered through Morgan Stanley Smith Barney LLC are not
insured by the FDIC, are not deposits or other obligations of, or
guaranteed by, a bank and involve investment risks, including
possible loss of principal amount invested.
© 2015 Morgan Stanley Smith Barney LLC
CRC 1132253 2/15
For Morgan Stanley Wealth ManagementMedia RelationsMargaret
Draper, 914-225-6369
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