Niche payments bank Raphaels Bank Payment Services is to offer Apple Pay to its cash passport multi-currency card customers.
The card – enabled by Mastercard Pre-paid Management Services – will be the first to transact in up to 10 currencies using Apple Pay, the bank claims.
Raphaels Bank believes this is a “significant development” to give pre-paid card programmes a differentiator to consumers.
Head of payment services, Janet Johnston, said: “The cashless society is set to accelerate over the next few years in line with the rapid growth in contactless payment transactions at point of sale and Apple Pay is playing a crucial role in this space.
“Whether via card or mobile, we see it as vital to be at the forefront of the digital payment revolution and are excited to be making it possible for pre-paid card programmes to use Apple Pay for multiple currencies.”
She added: “This is another great example of how we’re investing in transforming payments for pre-paid card programme managers, giving them a strong selling proposition that keeps pace with the rapidly evolving payments market.
“While many of the big banks have already adopted Apple Pay, we are proud to be one of the first specialist payment banks to offer this facility to our customers for multi-currency transactions.”
Mastercard Pre-paid Management Services president, Graham Perry, said:
“The addition of Apple Pay to our cash passport product marks a step change in digital convergence for our customers.”