Singapore's major banks adopt Apple Pay via MasterCard
MasterCard has partnered with Singapore's five major banks.
MasterCard has partnered with Singapore’s five major banks, including DBS, OCBC, POSB, Standard Chartered and UOB, to enable their customers to use their MasterCard brand credit or debit cards with Apple Pay.
Apple users in Singapore can now use their iPhone SE, iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus and Apple Watch to make purchases and pay for goods and services by swiping their device over contactless payment terminals.
To ensure the integrity of cardholder information, Apple Pay uses MasterCard’s safe and secure platform, MDES (MasterCard Digital Enablement Service).
As an added protection layer, Apple Pay incorporates extra security features such as Touch ID to authorize every payment.
MasterCard Singapore group head and general manager Deborah Heng said: “The biggest change we’ve seen in the payments space recently is the transformation of every electronic device into a shopping device, from mobile phones to watches.
“The readiness of Singapore’s consumers to embrace mobile payments, coupled with the rapid uptake of mobile payments, is quickly changing the dynamics of shopping and transacting online.”
Using the MasterCard Nearby app, a location-based app that identifies retailers that accept contactless payments, cardholders can easily locate shops which accept Apple Pay.