Introduction
Visa, a global authority in digital payments, introduced Apple Pay to its customers in Egypt. Apple Pay is a secure, convenient, and safe method of payment that can be used in-store, in-app, and online. Customers can make contactless in-store payments by holding their iPhone or Apple Watch near a payment terminal and double-clicking the side button.
Apple Pay ensures the security of every transaction by utilizing a one-time unique dynamic security code and either Face ID, Touch ID, or the device passcode for authentication. Apple Pay is currently recognized in various locations, including grocery stores, pharmacies, taxis, restaurants, coffee shops, and retail stores.
Read latest fintech articles: Sustainable Finance and Financial Inclusion: The Growing Intersection
Customers can also utilize Apple Pay on their iPhone, iPad, and Mac to purchase through apps or merchant websites supporting the service. This eliminates creating accounts or repeatedly entering contact, shipping, and invoicing information. Apple Pay simplifies the process of paying for food and grocery deliveries, online purchasing, transportation, and parking, among other things. The actual card numbers are not stored on the device or on Apple servers when consumers use a credit or debit card with Apple Pay.
Instead, the Secure Element, an industry-standard, certified microprocessor that is intended to store the payment information on the device securely, assigns a unique Device Account Number that is encrypted and stored. Apple Pay is effortless to configure. To add their Visa credit or debit cards, customers must open the Wallet app on their iPhone, select +, and follow the on-screen instructions. After a client adds a card to their iPhone, Apple Watch, iPad, or Mac, they can immediately begin using Apple Pay on that device. Customers will continue to receive all of the rewards and benefits available on their Visa cards.
Read latest fintech articles:The Role of Open Banking in Driving Financial Inclusion
Industry Comments
Malak El Baba, Vice President and Visa’s Country Manager for Egypt, remarked on the launch, “The introduction of Apple Pay in Egypt is a significant milestone in our journey towards bringing payment innovations to even more markets. As consumer preferences continue to evolve, we are committed to providing solutions that are secure, convenient and importantly, align with their digital-first lifestyle. Contactless payments are already trusted and popular in Egypt, and we’re excited to bring Apple Pay to our Visa cardholders.”
Conclusion
This is great news for people in Egypt who want to pay for things quickly and easily using their iPhones or Apple Watches. Apple Pay is a safe and secure way to make payments in stores, apps, and online. You don’t have to worry about carrying cash or entering your credit card information all the time.
Here are the key benefits of Apple Pay:
- Secure: Uses a one-time code and fingerprint or face recognition for security.
- Convenient: Pay with your iPhone or Apple Watch instead of cash or cards.
- Fast: No need to enter your card information or create accounts when shopping online.
If you have a Visa credit or debit card, you can easily add it to your Apple Pay wallet. Then you can start using it right away to pay for your purchases.
Read latest fintech articles:Cross-Border Payments: Improving Access to Financial Services in Emerging Economies
Read latest fintech articles:The Future of Digital Wallets and Payment Systems for the Unbanked
Read: Fintech in Hospitality: Top 10 Fintech Solutions for Hotels
To participate in our interviews, please write to us at news@intentamplify.com