HSBC credit cardholders will be able to make contactless payments without needing to use their physical credit card after the global bank announced it has linked all its credit cards with Apple Pay.
Australia is the sixth global market HSBC has launched Apply Pay and they follow several other institutions, such as ANZ, American Express (AMEX) and more than 20 mutual banks, which already offer Apple’s mobile payment technology in the country.
Graham Heunis, Head of Retail Banking and Wealth Management at HSBC Australia, said he was excited about customers using the technology. “The majority of our customers’ credit card payments are contactless and our experience in other markets shows us we can expect an increase in contactless payments as customers rapidly adopt Apple Pay,” he said. Heunis also said the bank plans to link Apple Pay with its debit cards in the coming weeks.
While awareness of Apple Pay is high, currently 7% of credit cardholders have used Apple Pay. Although this proportion is low it has been steadily increasing since March 2016.
According to RFi Group data, 46% of Australian credit cardholders are aware of Apple Pay, ranking it as the mobile payment service cardholders are most aware of. While awareness of Apple Pay is high, currently 7% of credit cardholders have used Apple Pay. Although this proportion is low it has been steadily increasing since March 2016.
Source: RFi Group Australian Credit Cards Council, Mar-17