SUNRATE, a Singapore-based payment and treasury management platform, is bringing Apple Pay to its customers, offering a safer, more secure and private way to pay, and using the iPhone’s power to protect each transaction.
Now, SUNRATE customers can use an iPhone or Apple Watch at payment terminals to make contactless payments. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or a device passcode, as well as a one-time unique dynamic security code.
Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information.
Qincheng Wang, head of product at SUNRATE, commented: “More and more businesses seek out the same degree of convenience and security that they enjoy in their everyday personal transactions – therefore, even though we are known to be a global B2B payment platform, we’re thrilled to bring Apple Pay to our customers.
“Ever since SUNRATE started issuing commercial cards, it has been all hands on deck to expand our offerings and bring even more features to our customers – the support of Apple Pay is part of SUNRATE’s global vision to drive B2B digitalisation for businesses worldwide.”
Maximising payment security
SUNRATE commercial cards enable customers to settle card spends in more than 15 currencies, as well as customise key parameters such as card limits and expiration dates.
SUNRATE explained that it chose Apple Pay due to its security and privacy benefits. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device or Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.
Customers can also generate real-time transaction statements, and cater to various reconciliation needs. SUNRATE is certified to the international financial data security standard: Payment Card Industry Data Security Standard (PCI DSS) Level 1.
