Palestine Monetary Authority announces that Arab Bank is the first Bank in Palestine that brings its customers Apple Pay, a safer, more secure, and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons, or exchanging cash — and uses the power of iPhone to protect every transaction.
Arab Bank customers simply hold their Apple devices including iPhone, Apple Watch, iPad, and Mac near a payment terminal to make a contactless payment. They will be able to complete purchases using this service at the point of sale, or electronically through applications and websites by linking Arab Bank cards with the Wallet app, available on their devices smoothly and quickly.
Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places.
Mr. Eyad Zeitawi, Executive Director of the Financial Stability Group at PMA, said, “The PMA’s efforts are now focused on achieving one of its most important strategic objectives of digital transformation and promoting the use of financial technology through the implementation of financial transactions through multiple electronic channels easily, securely, at a lower cost and at any time.” He pointed out that “this strategy will encourage reduced use of paper cash, enhanced financial inclusion, access to all segments of society and increased competitiveness among financial services providers.”
Mr. Zeitawi congratulated Arab Bank for being the first bank in Palestine to provide this service to its customers, considering Arab Bank a remarkable bank in keeping up with and providing the latest electronic banking services. He also pointed that other banks are working to provide this service to their customers soon.
Mr. Marwan Saqer, Head of Consumer Banking at Arab Bank – Palestine highlighted that “All Arab Bank customers can now use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information.”
Apple Pay makes it easier to pay for food and grocery deliveries, online shopping, transportation, and parking, among other things. Also, all customers will be able to take advantage of the bank’s offers available on payment and credit cards when they activate apple pay payment by iPhone and Apple Watch.
Apple Pay can also be used to make payments in apps on Apple Watch.
Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.
Apple Pay is easy to set up. On iPhone, simply open the Wallet app, tap +, and follow the steps to add Arab Bank’s credit or debit cards. Once a customer adds a card to iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all of the rewards and beneﬁts offered by Arab Bank’s cards.