Originally posted on Cashless Pioneers blog
Guest post written by James Anderson, Group Head and SVP, Mobile and Emerging Payments, MasterCard
MasterCard is the NAFCU Services Preferred Partner for Credit, Debit, and Prepaid Branded Products.
In bringing Apple Pay to consumers, Apple wanted to deliver the highest quality transactions possible. So who did they turn to? Those who’ve built the scalable payment infrastructure that is the envy of others – MasterCard.
We believe that payments should always be a simple proposition to the consumer – but once you get under the hood, there’s a very sophisticated network in place that enables any of us to walk into a store and make a purchase – trusting that our cards will work as we expect them to. We realize that consumers don’t care about that – but what they do want to know is that their information and their money are secure. Through the work that MasterCard did with Apple and with the active engagement of the first four issuers – we’ve delivered the most secure combination of technologies that we’ve ever deployed:
Top Things to Know About Apple Pay and the Security of Our Digital Payments Platform:
1. Apple Pay Transactions Will Work Just Like Any Other MasterCard Transaction
Transactions that originate from Apple Pay will work the same as any other MasterCard transaction. The consumer will see the card they wish to use in their iPhone from the issuer that they are used to doing business with, the merchant sees a MasterCard transaction – either the familiar contactless form in store or Digital Secure Remote Payment for in-app. Apple is never in the transaction path.