AIB, which already accepts payments through Android Pay, joins KBC and Ulster Bank in making Apple Pay available to its customers.
The app allows you to pay for goods and services online or at point-of-sale on your iPhone, iPad or Apple Watch.
Following the successful launch of Android Pay last December, Apple Pay was the next logical step in banking technology for AIB.
Who is eligible to use Apple Pay?
Apple Pay is now available to AIB current account and credit card holders and is compatible with an iPhone 6 or later, iPhone SE, iPad Pro, iPad Air 2, iPad mini 3 or later and an Apple Watch paired to an iPhone 5 or later.
Any shops that accept contactless payments will now accept Apple Pay for AIB customers.
Unlike contactless payments, however, there is no limit on the amount that you can spend in a transaction. But retailers do have the right to impose a €30 limit if they choose to do so.
How secure is Apple Pay?
Whenever new technology comes out, especially those that deal with personal information, it’s natural to be a little skeptical where security is concerned.
Thankfully, you can rest assured as it seems that Apple Pay is actually very secure. This is because every time you use the app in store it creates a new virtual card number so you never actually share your real card number with the shop.
Additionally, when you link your debit or credit card to the app, your number isn’t stored on your device and Apple has no access to it. Instead, a unique device account number is created, encrypted and securely stored in the secure element on your device.
Also, in the event that your phone is lost or stolen, you can remotely unlink your card from the Apple Pay app on another device using Apple’s Find My Phone feature.
Paying online with Apple Pay
Paying for items online or through apps with Apple Pay is also very secure.
Whenever you place an order, your device will use its Touch ID feature to confirm that it’s actually you that’s authorising the payment. This has the added bonus of being really convenient – you can simply pay for something with one touch of a screen, without having to re-enter card details and billing and shipping addresses every time you shop online.
Does it cost anything?
Using Apple Pay does not incur any extra charges so if you’re an AIB customer with an eligible device, there’s nothing to stop you from trying out the handy service today.
If you aren’t happy with your current bank – maybe its fees are too high for your liking, or you think it’s behind the times when it comes to online features – you should compare current accounts on bonkers.ie and consider switching.