Apple Pay gets support of Dutch bank ING

Apple Pay gets support of Dutch bank ING
Although Apple Pay is currently available to use in the U.S. only, that hasn't stopped Dutch bank ING from making clear its intention to support the mobile payments system once it expands to the Netherlands. On its website, ING wrote (translated from Dutch, of course), "Pay with Apple, you can pay in a number of stores with your iPhone 6 (Plus) or Apple Watch. Your mobile phone retrieves the data from your credit card at the Passbook app."

As for when we might see Apple Pay launch overseas, last month we told you that a U.K. launch of the mobile payment system could take place in the first half of this year. We also told you about a job posting for Apple Pay that hinted about future expansion of the service "across Europe, Middle East, India and Africa."

Just like large U.S. banks like Bank of America, ING has a sizable portfolio of credit cards that have been issued. The more they are used, the more money the bank makes which is one reason for ING to support Apple Pay. In addition, with the use of Touch ID helping to verify a card holder's identity, the number of fraudulent charges is reduced. Fraud is something that zaps profits from each bank's bottom line since customers affected by it are reimbursed by the financial institution. Reduce fraud, and bank profits rise.

Higher profits and fewer fraud reimbursements are a couple of good reasons for big banks like ING to support Apple Pay. We will probably see a number of overseas banks announce their support for Apple Pay as soon as the mobile payment system is expanded beyond the U.S.borders.

Thanks for the tip!

source: Techtastic (translated)



1. darkkjedii

Posts: 31039; Member since: Feb 05, 2011

Just like that it seems Apple is the king is NFC.

2. Carlitos

Posts: 668; Member since: Oct 23, 2011

*King of mobile payments* NFC expands beyond just being mobile payment. Such as data transfer between phones by simply tapping both phones on the back. Something apple does not do at all. Or perhaps NFC tags. Again something apple does not allow with their NFC chip. Or quickly activate WiFi tethering between devices.

6. darkkjedii

Posts: 31039; Member since: Feb 05, 2011

The money is in mobile pay, not phone tapping dude.


Posts: 261; Member since: May 03, 2013

8. RebelwithoutaClue unregistered

Not really, because the part above that says mobiel betalen, is about using a smartphone to pay at stores. Also NFC enabled. And the first part Contactloos betalen is about using the NFC chip in your bank card to pay by swiping your card and pay in the store. ApplePay is just part of integrating NFC payments in all their various sizes.

9. darkkjedii

Posts: 31039; Member since: Feb 05, 2011

I gotcha, but I think this push they're giving it will be beneficial across the board. We benefit big time, and I shoulda specified mobile payments, not NFC as a whole bro. My bad.

10. RebelwithoutaClue unregistered

True, everybody wins when all brands join in and especially Apple is a big pusher of these things. They make it known to the bigger audience.

11. darkkjedii

Posts: 31039; Member since: Feb 05, 2011

I'd love to see one global standard for video chatting. FaceTime, Tango, fring, Qik, etc. There's just too many of them, it'd be nice to be able call anyones phone, cause it's global standard like texting.

12. RebelwithoutaClue unregistered

That would be nice, include one standard whatsapp/viber/imessage platform and the world would be an easier place. Shame those things will never happen.

13. darkkjedii

Posts: 31039; Member since: Feb 05, 2011

Damn shame bro.

3. TimCook

Posts: 450; Member since: Oct 23, 2014

Apple Pay will be huge in the coming years because is a service done right and I am glad people are begining to love it...

4. hassoups

Posts: 473; Member since: Jun 06, 2013

Thank you for your generosity, Lord Tim.

5. tasior

Posts: 265; Member since: Nov 04, 2012

It's all so political, that it's sad. There alreay was NFC payment standard, but Apple has to create its own. And as with everything customers will be devided on Apple and the rest of the world... I just hope that there will be no need to use special Apple device in every shop.

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