Apple Pay has introduced an update for its UK users by integrating with open banking, enabling them to seamlessly connect their accounts with eligible debit and credit cards in their Wallet app.
This integration empowers users with the ability to access important financial information, such as their current debit card balance, in real-time at the moment of making a purchase.
Apple has worked with banks to make the feature available to multiple financial institutions in the UK, including Barclays, Barclaycard, First Direct, Halifax, HSBC, Lloyds, M&S Bank, Monzo, NatWest, and Royal Bank of Scotland.
Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, commented: “By enabling users to conveniently access their most useful account information within Wallet and at the time of their purchase, they can make informed financial decisions and better understand and manage their spend.
“We look forward to working with UK partners under the open banking initiative to help users better their financial health, and provide more ways in which banks can deepen their relationships with customers.”
Apple Pay made its debut in 2014, first hitting the US market before extending its reach to the UK in 2015. Presently, consumers in more than 70 global markets relish a seamless, secure, and confidential payment method, leveraging their cherished credit and debit card brands.
Following the update, users can view their up-to-date debit card balance in Wallet and when they’re checking out with Apple Pay online or in-apps. As users make a purchase, they can see what’s in their debit card balance to determine if and how it fits into their budget and spend.
Additionally, users can view their debit card account details, as well as debit and credit card spending history, payments, deposits, and withdrawals, in one place in Wallet.
