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The introduction of Apple Pay is expected to lead NFC-based contactless payments to gradually polarize into iOS and Android-based solutions, with a limited number of service providers dominating the market.
For more information on Apple Pay, including how to set up and use the service, visit http://www.
John Oxford, director of Corporate Communication and External Affairs for Renasant Corporation, said, 'We are excited to offer our clients the opportunity to use Apple Pay with their Renasant Bank MasterCard Debit Card.
In participating stores, Apple Pay will work with iPhone 6, iPhone 6 Plus and Apple Watch, upon availability.
Read more: Davis says credit unions should view Apple Pay as a way to avoid losing money
Direct and Apple Pay complement First National Bank s comprehensive online banking platform, which includes an intuitive budget center as well as a number of other necessary banking functions.
The company is also planning to develop additional features to integrate Apple Pay with other payment systems, and to store and share data overseas, besides the U.
Apple Pay uses short-range radio waves from a Near Field Communication (NFC) chip inside the iPhone 6 which sends the payment information.
In an unprecedented offer for the industry, PayAnywhere is offering merchants up to $5000 free in Apple Pay transactions with a new PayAnywhere account.
HSBC Holdings (LSE: HSBA) has said that its customers will not be able to benefit from the new Apple Pay system when it is launched in the UK on Tuesday.
A total of 46 PSCU credit unions now offer Apple Pay.
Commerce Bank now offers its customers Apple Pay, a new category of service that is transforming mobile payments with an easy, secure and private way to pay.