Safe, simple and secure way to pay
To tweet this news, copy and
paste mstr.cd/1WjWVcN to your Twitter
handle with the hashtag #ApplePay
TORONTO, May 10, 2016 /CNW/ - Today, MasterCard
announced it will bring its cardholders Apple Pay, which is
transforming mobile payments with an easy, secure and private way
to pay that's fast and convenient. MasterCard credit
cardholders banking with Royal Bank of Canada (RBC), Canadian Imperial Bank of
Commerce (CIBC), Canadian Tire Bank and ATB Financial can pay with
Apple Pay starting today, and cardholders who bank with BMO
Financial Group (BMO) will be able to use Apple Pay in the coming
weeks.
"We're excited to work with Apple to bring a new way to pay that
eliminates something many of us dislike: carrying a bulky physical
wallet. Apple Pay allows consumers to pay with
their iPhone – an item most of us wouldn't think to leave
home without," said Jason Davies,
Vice President of Digital Payments for MasterCard Canada. "Thanks
to our contactless footprint, our cardholders can tap their Apple
devices to pay across the country. This innovation is part of our
commitment to offer Canadians convenient, fast and secure payment
options."
Apple Pay leverages MasterCard's safe and secure
platform, MDES (MasterCard Digital Enablement Service), which
uses the most advanced payment technologies – EMV,
tokenization, cryptography and biometrics – to ensure the integrity
of cardholder information. When you use your MasterCard with
Apple Pay, the actual card numbers are not stored on the device,
nor on Apple servers. Instead, a token is created when you
load your MasterCard into your device. The token, an alternate
16-digit number linked to the device, will only ever be used when
paying with that device.
"At the heart of mobile payments is the peace of mind that comes
with knowing transactions are protected with the highest level of
security. Consumers want the same peace of mind when using Apple
Pay that they've enjoyed for years with their plastic MasterCard.
With the mobile security measures built into Apple Pay,
cardholders can be assured that they're fully protected," said
Davies.
Apple Pay is easy to set up and users will continue to receive
all of the rewards and benefits offered by credit
cards. In stores, Apple Pay works with iPhone SE,
iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus and Apple
Watch. When paying for goods and services in-store and in-app,
Apple Pay is compatible with iPhone 6s, iPhone 6s Plus, iPhone 6,
iPhone 6 Plus, iPad Air 2, iPad mini 3, iPad mini 4, iPad Pro and
Apple Watch.
About MasterCard
MasterCard (NYSE:
MA), www.mastercard.com, is a technology company in the global
payments industry. We operate the world's fastest payments
processing network, connecting consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. MasterCard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardCAnws,
join the discussion on the Cashless Pioneers
Blog and subscribe for the latest news on
the Engagement Bureau.
SOURCE MasterCard Canada