Apple Pay, a mobile payment and digital wallet service provided by Apple Inc, is to be available in Taiwan from today, local banks that are part of the initial launch of the service confirmed yesterday.
After Apply Pay becomes available, consumers would be able to use their iPhones and Apple Watches to make payments when they make purchases at physical stores, on apps and on Web sites, according to information on the Apple Web site.
It said shoppers would simply need to place a finger on the Touch ID sensor and hold the iPhone within 2.5cm of a contactless reader to make a purchase.
When using the Apple Watch, buyers need to double-click the side button and hold the display within 2.5cm of the contactless reader, then wait for a gentle tap that signals completion of the purchase, it added.
It takes only a few seconds to complete a purchase, the Web site said.
Apple said that seven banks are to be part of the initial launch of the Taiwanese service — Cathay United Bank Co (國泰世華銀行), CTBC Bank Co (中國信託銀行), E.Sun Commercial Bank (玉山銀行), Standard Chartered Bank, Taipei Fubon Commercial Bank (台北富邦銀行), Taishin International Bank (台新銀行) and Union Bank of Taiwan (聯邦銀行).
The service is to be available to users of all credit cards issued by the seven banks, which have a total of more than 25 million credit cards in circulation, accounting for about 60 percent of the total credit cards in circulation in the nation, the Financial Supervisory Commission said.
Convenience store chain FamilyMart (全家), and hypermarket and supermarket chains Pxmart (全聯), Carrefour, RT-Mart (大潤) and Amart (愛買) yesterday said that Apple Pay payments would be accepted at their stores once the service is launched.
Apple Pay was introduced to the global market in September 2014, allowing contactless payments via iOS apps.
Taiwan is the latest location to launch the Apple Pay system, which is already available in the US, Canada, Hong Kong, Australia, Singapore, Japan, China, Britain, France and Spain, among other nations.
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