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FlexiGroup Limited announced to the ASX at the beginning of the week that it is now making Apple Pay available to customers of its subsidiary card brands Lombard Finance and Once Credit.
Commenting on the new development, CEO Symon Brewis-Weston said, “The launch is part of the focus on delivering innovative and tailored financial solutions to our customers.
“We are committed to enhancing our offering to cardholders by providing increased ease and convenience in how they pay for goods and services.”
The contactless mobile payment technology allows customers to make quick and secure purchases on their Apple device — such as the most recent versions of iPhone and Apple Watch — wherever contactless payments are accepted.
The technology works after users set up their credit or debit card with Apple Pay. Their Apple device does not store the numbers, but instead a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on an Apple device. Each transaction is then authorised with a one-time unique dynamic security code.
[Related: Non-majors introduce Apple Pay]