Paymentology, a global issuer processor, has announced the launch of Apple Pay for GoTyme Bank in the Philippines.
Through this launch, GoTyme becomes one of the first issuers in the Philippine market to enable Apple Pay, giving 10 million customers an easy, secure and private way to pay using their Apple devices. Customers can now securely add their GoTyme debit card to Apple Wallet and make contactless payments in stores, within apps and online wherever Apple Pay is accepted.
Apple Pay uses industry-leading tokenisation technology, meaning card numbers are never stored on devices or shared with merchants. Instead, a unique Device Account Number is assigned, with every transaction authenticated through Face ID, Touch ID or a device passcode, providing an additional layer of security while delivering a fast, frictionless checkout experience.
The launch comes as digital payments continue to reshape the Philippine economy. According to the Bangko Sentral ng Pilipinas (BSP), digital payments now account for more than half of all retail payment transactions, as consumers increasingly embrace mobile-first banking and contactless payments.
Meanwhile, smartphone penetration continues to rise, supporting growing demand for digital wallets and tokenised payment experiences. As digital commerce accelerates, enabling secure mobile payments through services such as Apple Pay is becoming an increasingly important differentiator for financial institutions, says Nate Clark, President and CEO at GoTyme Bank.
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Article provided with permission from AppleWorld.Today
