RRSS News Online Newspaper ng mga Pinoy
Apple users in the Philippines can now enjoy paying right straight through their devices, as the tech giant has recently rolled out its Apple Pay service in the country. A feature that is much-awaited by the tech company’s fanatics.
Apple Pay refers to a mobile payment service which allows users to make payments. This is through digitizing and replacing a credit and debit card and allow contactless-capable point-of-sale terminal.
In a press release dated August 4, Tuesday, the company has said that the service provides an easier, more secure, and private way to pay at retailers – this includes grocery stores, pharmacies, restaurants, coffee shops and others. In other words, thousands of in-store and online merchants in the country will accept Apple Pay as payment method.
Jennifer Bailey, VP for Apple Pay and Apple Wallet, has said noted the security and privacy that they provide. “The Philippines is home to a digital-first generation that is rapidly embracing a vision for a cashless future, all while expecting security and privacy at every step.”
Manila Bulletin has disclosed that the adoption currently accepts linking cards from ChinaBank, GoTyme Bank, MetroBank, and UnionBank.
While they are engaged in digital payments, the company has noted that they are not storing actual card numbers on the device nor on their servers, but instead assigns a unique device account number which is encrypted and securely stored in the Secure Element.
This means, no transaction information is retained – meaning, private. If an iPhone is lost or stolen, the owner can use the Find My app to quickly locate, lock or suspend payments from the device.
The Bangko Sentral ng Pilipinas (BSP) has noted that Apple Pay needs not to register with the BSP as it is not an operator of payment system.
“Kung ganyan lang, kasi walang wallet, wala eh, hindi dumadaan sa kanila ‘yung pera. Babasahin lang ‘yung credentials, tapos walang contract between them and the merchants,” BSP Deputy Governor Mamerto Tangonan said.
MasterCard Philippines, meanwhile, has shared their excitement. Jason Crasto, country manager, has said, “As digital adoption continues to accelerate in this region, we’re excited to continue connecting people to the payment choices they want and the peace of mind they need every time they pay.”
Sources: GMA News, Apple, Manila Bulletin
