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Apple Pay Coming To UK Private Bank

Amisha Mehta, Reporter, London, 10 June 2015

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Coutts has announced they will back Apple Pay in the UK, by introducing its clients to the service after its launch next month.

London-based Coutts will be among the first banks to support the launch of Apple Pay in the UK.

The UK private bank's clients will have access to the contactless payment service, which will enable them to do their banking on the move. 

Apple Pay, which is set to launch in the UK next month, authorises each transaction with a one-time unique dynamic security code, instead of using the security code on one's card. 

In stores, Apple Pay will work with iPhone 6, iPhone 6 Plus and Apple Watch. When paying within apps, it will be compatible with iPhone 6, iPhone 6 Plus, iPad Air 2 and iPad mini 3, Coutts, which is part of RBS's commercial and private banking division, confirmed.

“As part of our goal to be number one, we are absolutely focused on giving our customers the best and most innovative experience possible,” said RBS's chief executive, Ross McEwan.

“Whether on the high street, in a small shop or on the go within apps, Apple Pay offers a simple and secure way to pay. We are pleased to be among the first UK banks to offer this service to our customers.”

Interestingly, London-listed Barclays has not yet confirmed any such support of Apple Pay. This has provoked a media stir over the past couple of days, fuelled by angered Barclays customers. In response, Barclays UK took to Twitter to say that they are in talks with Apple about how their customers could use Apple Pay alongside Barclays' existing mobile and payment services. “These talks remain constructive,” the bank said.

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