The Banking Executive Magazine - April 2021

Ajman Bank Ajman Bank BRINGS APPLE PAY TO CUSTOMERS Ajman Bank, one of the leading Is- lamic financial institutions, today brings its customers Apple Pay, a safer, more secure and private way to pay that helps customers avoid hand- ing their payment card to someone else, touching physical buttons or ex- changing cash — and uses the power of iPhone to protect every transac- tion. Customers simply hold their iPhone or Apple Watch near a payment ter- minal to make a contactless pay- ment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places. Making the announcement, Mr. Mo- hamed Amiri, Chief Executive Offi- cer, Ajman Bank commented, “Digitization has been a core objec- tive at Ajman Bank and in line with it we are continuously exploring ways to provide innovative and su- perior solutions to our customers. COVID-19 accelerated digital trans- formation intensified by customers’ adoption of cashless payments. Apple Pay is the perfect solution for Ajman Bank card holders given the growing demand for seamless, safe, and reliable digital payments. We believe it will greatly contribute to enhance the experience of our cus- tomers giving them a holistic and convenient solution.” Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeat- edly type in shipping and billing in- formation. Apple Pay makes it easier to pay for food and grocery deliver- ies, online shopping, transportation, and parking, among other things. Apple Pay can also be used to make payments in apps on Apple Watch. Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Ac- count Number is assigned, en- crypted, and securely stored in the Secure Element, an industry-stan- dard, certified chip designed to store the payment information safely on the device. Apple Pay is easy to set up. On iPhone, simply open the Wallet app, tap +, and follow the steps to add [or- ganization’s] credit or debit cards. Once a customer adds a card to iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all of the re- wards and benefits offered by Ajman Bank cards. ISSUE 148 APRIL 2021 the BANKING EXECUTIVE 49