#Asia Visa and MasterCard users rejoice: Apple Pay partners with 5 major banks in Singapore


The five banks are DBS, OCBC, POSB, Standard Chartered and UOB


Apple Pay is finally permitting Visa and MasterCard credit and debit card cardholders in Singapore to use its service. Today it announced a partnership with five major banks in Singapore — DBS, OCBC, POSB, Standard Chartered and UOB. Previously, only American Express cardholders were eligible.

ApplePay will be available to cardhholders who hold an iPhone SE, iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus, iPad Air 2, iPad mini 3, iPad mini 4 or an iPad Pro.

The deal is a logical move for Apple Pay considering a recent MasterCard survey showed one in three consumers in Singapore were receptive to digital wallets.

“The readiness of Singapore’s consumers to embrace mobile payments, coupled with the rapid uptake of mobile payments is quickly changing the dynamics of shopping and transacting online. With Apple Pay, MasterCard cardholders will have the flexibility and assurance to make secure digital payments wherever and whenever they want,” said Deborah Heng, group head and general manager, MasterCard Singapore, in an official press statement.

Also Read: China and neighbors set to dominate global digital payments: report

In addition, MasterCard cardholders who download the MasterCard Nearby app will be able to locate and identify retailers that accept Apple Pay.

In a Channel NewsAsia report, Apple executive Jennifer Bailey said there are plans to roll out a rewards programme for Apple Pay users in the future.

Last month, rival consumer conglomerates Samsung launched its contactless payment service Samsung Pay in Singapore.  However unlike Apple Pay, its service was immediately made available to American Express, MasterCard and Visa cardholders of DBS/POSB, OCBC Bank and Standard Chartered.

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