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SYDNEY, New South Wales – 15 November 2016 — Teachers Mutual Bank, one of Australia’s leading mutual banks, today brings its members Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.
Roy Morgan Research recently found* that Teachers Mutual Bank’s membership has the highest proportion of technology early adopters of any bank in Australia and up to 75% of its online banking customers use Apple device, so it is expected that Apple Pay will be eagerly embraced.
Security and privacy is at the core of Apple Pay. When you 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 Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorised with a one-time unique dynamic security code.
“Feedback from our members tells us that they would like to use Apple Pay, and we expect it will have high adoption,” said Steve James, CEO of Teachers Mutual Bank.
Apple Pay is easy to set up and users will continue to receive all of the rewards and beneﬁts offered by credit and debit cards. In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch.
Online shopping in apps and on websites accepting Apple Pay is as simple as the touch of a finger with Touch ID, so there’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information. When paying for goods and services on the go in apps or Safari, Apple Pay works with iPhone 6 and later, iPhone SE, iPad Pro, iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch, or with Touch ID on the new MacBook Pro.
For more information on Apple Pay, visit: http://www.apple.com/au/apple-pay/
* Roy Morgan Research Single Source: March 2015 - February 2016, released 9 May 2016
Gillian Tatt, Corporate Affairs Manager
+61 2 9735 9825 / 0448 259 942
Teachers Mutual Bank is one of Australia’s largest member-owned banks with over 185,000 members and more than $5.8 billion in assets.
The bank is dedicated to enhancing the financial wellbeing of teachers, their families and employees in the Australian education sector via competitive banking products and services.
Teachers Mutual bank has achieved widespread industry recognition for its commitment to ethical banking, high rates of customer satisfaction, and a strong sustainability record.