Apple Pay is now available in Armenia

Apple Pay, the tech giant’s mobile payment software for cashless & card-free purchases, has launched in Armenia with support for Mastercard and Visa cards issued by Acba Bank, Ardshinbank, Ameriabank, Converse Bank, Inecobank, and Unibank․ They have all officially announced that the service is available to their customers in Armenia․ Customers can now make contactless payments after adding their card to the Wallet app on iPhone and Apple Watch.

  • The app allows users to make online purchases through contactless technology, both in-app (iOS) and on-site. After shoppers have their credit card stored on the iPhone, they only need to keep the phone near an NFC scanner, use the iPhone’s Touch ID to accept the purchase using their fingerprint, and the payment is processed within a few seconds. The approach is easier than the conventional swiping procedure for credit cards. Customers would enjoy the quick Apple Pay checkout; there is no need to enter the detailed information of the credit card.
  • It is secure. Since there is no requirement for a credit card to be present, the risk of a stolen number is smaller. In comparison, Apple does not use the credit card number to make the purchase but uses a token to complete the transaction called the “device account number” which further decreases the likelihood of stolen credit card information. In other words, to keep transactions secure, Apple uses a method known as “tokenization,” preventing actual credit card numbers from being sent over the air. Apple also secures payments using Touch ID or Face ID on compatible iPhones and continual skin contact on the Apple Watch. Apple Pay is an adaptation of the EMVCo standard that is regarded as the most reliable payment system by many industry experts.
  • To use Apple Pay, an internet connection isn’t required. It can be used anywhere and roaming charges should not accumulate. It can still be accessed even if your phone is in airplane mode.
  • It is more confidential. Apple will not monitor the purchases of customers and store the details. This provides more privacy. The use of device account numbers against the credit card often makes the purchase with the stores much more confidential as they do not see the identity of the customer and other information, such as the billing address.