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MasterCard integrates Apple Pay
While banking consolidation is being demanded, there is a mounting call to build at least two Indonesian banks of international class in terms of capital, assets and governance to gear up for the ASEAN free financial market
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hile banking consolidation is being demanded, there is a mounting call to build at least two Indonesian banks of international class in terms of capital, assets and governance to gear up for the ASEAN free financial market.
Making payments through mobile devices is about to get more affordable, as MasterCard recently announced its collaboration with Apple for secure mobile transactions.
Now MasterCard cardholders can use their cards when, where and how they want; as Apple has just unveiled Apple Pay, which will enable MasterCard cardholders to use their iPhone 6, iPhone 6 Plus and Apple Watch for everyday purchases.
Owners of these mobile devices can use their MasterCard credit or debit cards from participating banks directly through Apple Pay.
At a store, consumers can simply pay by just holding their iPhone near a contactless reader with their finger on Touch ID and their transaction will be authenticated.
For purchases within an app, consumers can simply touch to pay and authenticate with their fingerprint or pass code for a seamless experience without having to enter their card number or leave the app.
'Apple has a long tradition of introducing breakthrough products with features that really matter to people. Apple Pay, combined with MasterCard's payments technology, gives consumers an easy, secure and private way to shop,' said Ed McLaughlin, MasterCard chief emerging payments officer.
He added, 'We have been a pioneer of mobile commerce innovation for years ' including the world's first contactless and mobile payment solutions.
We're thrilled that MasterCard cardholders will soon be able to make payments from their iPhone 6, iPhone 6 Plus and Apple Watch, knowing that every purchase is secure and offers all the same guarantees and benefits they've come to expect from using their MasterCard.'
Apple Pay will be available to US consumers via a free update to iOS 8 this October.
MasterCard cardholders will be able to make simple and secure payments in the apps of top merchants, as well as contactless payments at some of the most frequented US locations including major stores, restaurants, transit providers, fuel and convenience stores, and all Apple Store locations.
One of the first to accept Apple Pay via iPhone 6, iPhone 6 Plus and Apple Watch will be MasterCard's long-time partner, Major League Baseball.
