U.S. Bank customers now have a safer, more convenient way to pay using their mobile devices as Apple Pay goes live for U.S. Bank customers today.
Apple Pay lets customers make in-store mobile payments from their iPhone 6, iPhone 6 Plus and upcoming Apple Watch. When paying for goods and services within apps, Apple Pay is compatible with iPhone 6, iPhone 6 Plus, iPad Air 2 and iPad mini 3.
“We couldn’t be more pleased to see this day arrive for our customers,” said Dominic Venturo, chief innovation officer at U.S. Bank, in a statement. “Providing our customers the ability to securely pay where, when and how they want is a central theme for our payments business. Enabling our customers to use Apple Pay is the perfect example of how we bring that philosophy to life.”
U.S. Bank customers can use Apple Pay with confidence, as security and privacy is at the core of Apple Pay. When customers add a credit or debit card with Apple Pay, the actual card numbers are not stored on the device or on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on the device. Each transaction is authorized with a one-time unique dynamic security code, instead of using the security code from the back of the card. If the device is lost or stolen, all information can be made inaccessible or erased remotely.
U.S. Bancorp, with $391 billion in assets as of Sept. 30, 2014, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,177 banking offices in 25 states and 5,026 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
Source: U.S. Bancorp