Apple Pay Debuts in Philippines, Accelerating Digital Payment Adoption

MANILA, Philippines — Apple Pay has officially debuted in the Philippines with an initial roster of four partner banks, marking the long-awaited entry of Apple’s mobile payment service into the local market. The first participating banks are China Banking Corp., GoTyme Bank, Metropolitan Bank & Trust Co. and Union Bank of the Philippines, according to Apple’s Philippine website. Eligible Visa and Mastercard cardholders of the four banks can now use their iPhone or Apple Watch to pay at contactless terminals. Payments can also be made through supported apps and websites using an iPhone, iPad or Mac. Visa said the launch marks another step in the country’s transition toward digital payments while making transactions more convenient for both Filipinos and international visitors. “Apple Pay represents the next evolution of payments in the Philippines, combining ease of use, simplicity and security in every transaction, helping amplify the payment experience for Visa cardholders in the Philippines,” Jeffrey Navarro, country manager for Visa Philippines, said. “With Apple Pay, Filipinos and tourists alike now have seamless and secure ways to pay across shops, restaurants, travel destinations and public transport, supporting the nation’s vision to become a cash-lite economy.” Mastercard echoed that view, saying the rollout gives consumers another secure and convenient way to pay as digital adoption continues to gain momentum. “As digital adoption continues to accelerate in this region, we’re excited to continue connecting people to the payment choices they want and the peace of mind they need every time they pay,” Jason Crasto, country manager of Mastercard in the Philippines, said. Among the first local issuers to support the service is UnionBank, which said the integration aligns with its push to make banking more intuitive and secure for customers. “Bringing Apple Pay to UnionBank cardholders enhances the payment experience by allowing customers to pay quickly and securely with the devices they use every day,” UnionBank president and CEO Ana Aboitiz Delgado said. “Whether they’re shopping in-store, online or in-app, customers can enjoy a more seamless way to pay, with the security and convenience they expect from UnionBank,” she added. Information Source: Philstar Business