First Tennessee Bank has announced it will be able to offer customers the option of using a debit or credit card within Apple Pay, a new payment service from Apple.
Customers will now be able to add their credit or debit card to Apple Pay and with an iPhone 6; they will be able to make purchases by swiping the cards or app without entering payment and contact information.
A device account number is assigned, encrypted and stored on the phone so customers don’t have to share their actual card numbers when making a payment. To make a payment the number alongside a security code is used to process the payment. Apple has announced that it will never share card numbers with merchants or transmit them during a payment and the cashier in-store will not see the customer’s name, card number or security code.
Dondi Black, Manager of Retail Payments for First Tennessee said: “Increasing convenience and security for our customers is our top priority, and Apple Pay is another way we are doing that for our cardholders, in the wake of recent data breaches at national merchants, Apple Pay gives customers another safe option for making payments at a wide range of retailers.”
“More and more customers are using mobile banking with their iPhones, so Apple Pay brings a similar transformation to the way they make their purchases, with digital payment solutions like Apple Pay and chip cards, we’re using the latest technology to meet customer needs and keep their information safe.”
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