According to a report by Reuters, a London-based financial tech start-up, TransferWise has partnered with Apple Pay. The new collab will allow the users to exchange money all over the world by using the Apple Pay, making transfers more convenient and protected.
Reportedly, the commercial money transfer firm has confirmed that it has joined hands with Apple to enhance the process of payment services throughout the US and some other countries that are Australia, Switzerland, France, Spain, Ireland, and Italy.
It is a good news for Apple users as by using TransferWise they won’t have to insert their debit or payment cards and other bank account details in order to transfer money, instead their Apple Pay account will do the speedy exchange of funds.
The startup presented a hope that the new service will help grow their transaction volumes by making the money exchange by tapping into the company’s user base. Consumer product lead at TransferWise, Gregory Talon, said in an interview, “it’s much more convenient to do it this way,” he added, “because you don’t have to type any of your card details it limits the risk of having somebody watching what you are doing.”
This idea had already been implied in the UK back in the year 2015 as the tech money transfer cohort says that Apple Pay usage on TransferWise in the UK has given them encouraging outcomes. Moreover, over 10 % of all TransferWise transactions to and from British Pounds are carried out on Apple iOS devices are financed via Apple Pay.