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Apple Pay Now Available To More Consumers In Singapore
This article was originally on GET.com at: Apple Pay Now Available To More Consumers In Singapore
Last month we reported that Apple Pay has launched in Singapore, but only for AMEX credit card cardholders. As of today, five major banks, POSB, DBS, OCBC, UOB and Standard Chartered have jumped on board the Apple Pay bandwagon.
Other banks like Citibank, HSBC, ANZ and Maybank are still not on board with Apple Pay.
If you don’t know what Apple Pay is, it is basically a contactless payment method through your Apple devices that are powered by near-field communication (NFC) technology - the same technology used in our ez-link cards.
You need to have a digital wallet in your Apple device and add in your credit card details by taking a picture of your valid credit cards and keying in the expiration date and CVV numbers.
This Apple Pay service will only work on Apple devices, with the NFC technology and the Touch ID fingerprint sensor like the iPhone SE, iPhone 6s, iPhone 6, iPad Pro and the iPad Air 2, as well as the Apple Watch.
To authenticate each transaction, the user will have to use the Touch ID fingerprint sensor on their iPhone and iPad devices. For the Apple Watch, to activate your credit card, users have to double-click the side button while the device is unlocked.
With Apple Pay now available to these five popular banks, more people in Singapore can use this service since the banks make up 83% of the Visa and MasterCard credit and debit cards issued in Singapore.
In Singapore, at least 30,000 retail stores like FairPrice and Cold Storage supermarkets, Guardian and Uniqlo outlets accept the contactless payment method. Apple Pay can also be used to make taxi payments.
What about Android users? It seems Samsung Pay is also in the pipeline to be launched next month in Singapore. Samsung is already working with Visa and MasterCard to roll out Samsung Pay with DBS, OCBC, Standard Chartered and American Express. This will enable the latest Android devices to make contactless payments in the near future as well.
Currently, there is a $100 limit on most transactions if you were to use Apple Pay. However, this restriction does not apply to UOB credit card patrons at some of its partner merchants such as Singapore Petroleum Company, Caltex, Metro and The Coffee Bean & Tea Leaf.
If you prefer this payment flexibility and are keen to sign up for an UOB credit card, you may wish to check out the UOB One Card which gives you up to 5% cash rebate on all of your spendings.
You can also check out UOB PRVI Miles Visa Card which is one of our best credit cards for frequent travellers.
To check out other Apple Pay-friendly cards, like POSB credit cards, DBS credit cards, OCBC credit cards or Standard Chartered credit cards, use a credit card comparison site like GET.com to help you make an informed decision on which card suits your needs best.
What do you think? Share your comments with us below!
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