SunTrust Bank is making
Apple Pay available to customers of its 31 locations in the Memphis area, giving them the ability to pay securely with their iPhones and iPads instead of their wallets.
"We are constantly looking for ways to help improve the financial well-being of our clients, and part of that is offering solutions that make banking simpler, more convenient and safer," says Beverly Ladley, SunTrust Client Segments and Solutions Executive. "The addition of Apple Pay provides SunTrust clients with an innovative, secure option to make purchases."
Apple Pay was unveiled in September and featured more than 220,000 vendors at launch.
The service works in stores with iPhone 6, iPhone 6 Plus and Apple Watch, once it is available. When paying for goods and services within apps, Apple Pay is compatible with iPhone 6, iPhone 6 Plus, iPad Air 2 and iPad Mini 3.
SunTrust chose Apple Pay due to its security and privacy. When clients add a SunTrust credit or debit card with Apple Pay, the actual card numbers are not stored on the device or on Apple servers. Instead, a unique device account number is assigned, encrypted and securely stored on their device, and each transaction is authorized with a one-time unique dynamic security code instead of using the security code from the back of the card.
When clients use Apple Pay in a store, restaurant or other merchant, cashiers will no longer see their name, credit card number or security code, helping to reduce the potential for fraud.
Regions Bank also offers Apple Pay for its customers.
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