Apple Pay helps clients maintain privacy and control by not requiring them to hand over their payment card to another person. It also helps customers avoid having to touch physical buttons or exchanging paper currency notes. Apple Pay takes advantage of the power of the iPhone to protect digital transactions.
Clients just have to hold their iPhone or Apple Watch close to a payment terminal in order to carry out a contactless payment. Every Apple Pay purchase is secure since it’s authenticated with Face ID, Touch ID, or device passcode, and a one-time unique dynamic security code.
Apple Pay is being accepted in grocery stores, pharmacies, by taxi services, restaurants, coffee shops, retail outlets, and many other businesses.
Customers can also use Apple Pay from their iPhone, iPad, and Mac to make quicker and more convenient purchases in apps or via the web in Safari without opening new accounts or constantly having to enter their shipping and billing details.
Apple Pay has been developed to make it easier to pay for various everyday items like food and grocery deliveries, online shopping, transportation, and parking. Apple Pay may also be used to perform payments in apps on Apple Watch.
Security and privacy are key features of Apple Pay. When clients use their credit or debit cards with Apple Pay, the actual card numbers aren’t stored on the device, and not even on Apple servers. A unique Device Account Number is assigned, encrypted, and securely kept in the Secure Element, an industry-standard, certified chip developed to store the payment details securely on the device.
Apple Pay is quite easy to install. On the iPhone, you just have to open the Wallet app, tap +, and follow the steps to add ikigai’s Visa debit card. After a customer has added the card to iPhone, Apple Watch, iPad, and Mac, they are able to begin using Apple Pay on that device. Clients will continue to receive the same rewards and benefits provided by ikigai’s cards.
ikigai, a banking and Wealthtech company, had secured nearly £1.7 million through its equity crowdfunding campaign on Crowdcube (in May 2021). The funding round, which originally sought to raise £1.2 million had attracted more than 1260 Crowdcube investors (as reported in May).
As previously covered, ikigai is on a mission to be the 1st UK Fintech to combine banking & wealth management in one app, targeting the young affluent in need of money management services. Launched at the beginning of 2021, the company reports a 20% week-on-week growth in new customers. It has also partnered with various providers, including WealthKernel and Railsbank. Ikigai’s portfolios are managed using asset allocation guidance from BlackRock.