European mobile bank N26 has introduced Apple Pay for its UK customers as part of its efforts to better serve them. N26 was introduced in the UK in November 2018, and now Apple Pay has been launched to help customers make efficient daily financial decisions.
Via Apple Pay, the customers of N26 will be provided with an easy, secure and private way to pay in stores, in-app and online through Apple devices.
According to N26, payments with Apple Pay are faster than payments with traditional debit and credit cards or other payment methods.
Payments can also carried out through iPhone, Apple Watch or Safari on MacBook Pro or MacBook Air with Touch ID, enabling to avoid search for a wallet.
N26 app or Apple Wallet app can also be used by the customers to add their card to Apple Pay. The actual card numbers are not stored on the device nor on Apple servers, when the customer uses a credit or debit card with Apple Pay.
A unique device account number will be assigned, encrypted and securely stored in the secure element of the device, and each transaction will be authorized with a one-time unique dynamic security code.
In stores, Apple Pay is said to work with iPhone SE, iPhone 6 and Apple Watch. It also works with iPhone 6, iPhone SE, iPad Pro, iPad, iPad Air 2 and iPad mini 3 when paying for goods and services in-app or on Safari.
N26 international markets head Alexander Weber said: “N26 has been designed to simplify banking and empower people to take control of their finances.
“With Apple Pay and its cutting edge mobile payments technology, we’re taking the next step towards delivering the best digital banking experience possible for UK customers.”
N26 has more than two million customers across 24 markets who generate over €1.5 billion in monthly transaction volume.
N26 has gathered $215 funds from investors such as Tencent, Allianz X, Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, Earlybird Ventures, Battery Ventures to expand its operations.