The Ural Bank for Reconstruction and Development (UBRD) has connected to the mobile payments system Apple Pay. The service is available for cardholders of Mastercard issued by the Bank, reported in a press-service financial institution.
When you add any Bank card to Apple Pay it is stored on the device nor on Apple servers. Instead, it is assigned a unique number, device account, which is encrypted and securely stored in the chip’s Secure Element on the device. Each transaction is authenticated through a unique one-time secret code that is dynamically generated.
To configure Apple Pay, customers can add a credit or debit card through the Wallet app. To pay using Apple Pay with iPhone SE iPhone 6 and later models, and with Apple Watch, reminded in the Bank.