Apple Pay is all set to launch next month in the UK, allowing Britons to pay for products directly through their phones.
Initially, 250,000 locations including shops and restaurants will accept the payment system, and it will be supported by some of the leading banks in the UK including American Express, MasterCard, Visa Europe, Royal Bank of Scotland, Santander and Ulster Bank.
According to ACI Worldwide EMEA Solutions Practice lead Consumer Payments Lu Zurawski, the introduction of the next generation payment system is expected to succeed in the UK especially in areas where contactless payments have already gained popularity.
He also considers the launch to be one of the most significant event in consumer payments in over 50 years in the UK.
According to Zurawski, bankers will have to figure out a way to not only accommodate Apple Pay but also other similar services like Samsung Pay, Android Pay and Zapp scheme.
He said that bankers in the UK are trying to figure out solution to bring together the payment solutions to provide users with an overall easy to use service.
Apple emphasised that the actual card numbers will not be stored on the device, or on Apple servers, instead a unique Device Account Number will be given to each user, which will be stored in the device, and a one-time unique dynamic security code will be generated for authorising every transaction.
KFC chief marketing officer David Timm said: "We are delighted to be one of the lead business’s in the UK to embrace this new form of contactless payment.
"Apple Pay technology can revolutionise the payment process for our customers, and as a future focused business we are excited to be at the forefront of its inception into this country."
Visa Europe Mobile executive director Jeremy Nicholds said: "Contactless payments are already widely embraced by millions of Visa cardholders across the country every day, so adding the simplicity and convenience of Apple Pay will catapult mobile payments into the mainstream.
"If people leave the house with one item, it’s their mobile phone – we’ve worked alongside Apple and the various banks involved to give customers a really seamless and exciting new payment experience through Apple Pay, so they have new ways to use their favourite Visa cards on the go and when shopping in the apps they love."
Santander UK CEO Nathan Bostock said: "Digital technology is rapidly changing how customers bank and pay on the move, and we are working to be at the forefront of that change.
"Apple Pay is set to change the way we pay for products and services in the UK, so it was the obvious choice to offer our customers, especially as we see a significant overlap between UK consumers with iPhones and Santander 1|2|3 World customers."
