Apple has announced that a new feature is available for Apple Pay users in the U.K., enabling them to connect their accounts to eligible debit and credit cards in Wallet.
They can view and access their most useful, relevant information — like their up-to-date debit card balance — at the time of purchase, according to Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. This feature empowers users to make more informed purchases, increases their confidence when making a transaction, and allows them to simply view frequent information so that they have more control when it comes to their finances, she adds.
Users will be able to 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 — whether large or small — they’ll be able to see what’s in their debit card balance so they can determine if and how it fits into their budget and spend.
Additionally, users will be able to view their debit card account details, as well as debit and credit card spending history, payments, deposits, and withdrawals in one place in Wallet.
To get started, users must be using the latest version of iOS 17.1, and will need to connect their account to their corresponding eligible card in Wallet.
Once users select an eligible card, they’ll be taken to their financial provider’s app or website in order to authenticate their account. From there, they will follow the steps to enable the connection.
Before an account is connected, users will be shown what information will be made accessible to them in Wallet and need to provide consent — leveraging and adhering to Open Banking standards.
As part of the Open Banking initiative, Apple says it’s been working closely with banks to make the feature available to multiple financial institutions in the U.K., including Barclays, Barclaycard, First Direct, Halifax, HSBC, Lloyds, M&S Bank, Monzo, NatWest, and Royal Bank of Scotland.1
Privacy and Security
Like Apple Pay, this feature is designed to be private and protect user data, notes Bailey.
Users must authenticate through their financial provider’s website or app, as well as consent to connect their accounts to their cards in Wallet and share their data, before the feature is enabled. The user’s account balance information, transaction history, and other account details are stored on the device and not on Apple servers.
Users can also remove the feature at any time by disconnecting their account through Settings.
Article provided with permission from AppleWorld.Today