Paymentology, a card issuing and processing platform, has announced the launch of Apple Pay for GoTyme Bank in the Philippines.
According to a statement, the rollout makes GoTyme “one of the first issuers” in the country to offer Apple Pay, extending the service to the digital bank’s ten million customers.
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With the launch, customers can add their GoTyme debit card to Apple Wallet and use it for contactless payments in stores, within apps, and online at merchants that accept Apple Pay.
GoTyme Bank president and CEO Nate Clark said: “At GoTyme Bank, we’re constantly looking for ways to make banking simpler, safer and more rewarding for our customers.
“Bringing Apple Pay to GoTyme Bank customers in the Philippines gives them an easy and secure way to pay wherever they shop while continuing to earn rewards points on all their transactions. This is another step in our commitment to making everyday banking more beautiful and convenient for our customers.”
Apple Pay relies on tokenisation technology, under which card numbers are not stored on devices or shared with merchants.
Instead, each transaction uses a unique Device Account Number, authenticated through Face ID, Touch ID or a device passcode.
Paymentology APAC Growth head Minh-Ha Truong said: “As a long-standing partner to GoTyme, we’re proud to support another significant milestone in its growth journey.
“Bringing Apple Pay to market demonstrates how modern, cloud-native issuer processing enables digital banks to rapidly deliver innovative payment experiences while maintaining the highest standards of security, scalability and performance. Together, we’re helping shape the future of digital payments in the Philippines.”
The launch coincides with growth in digital payments across the Philippine economy. Digital payments currently account for more than half of all retail payment transactions in the country, Paymentology said, citing data from the Bangko Sentral ng Pilipinas (BSP).
Paymentology supports fintechs, digital banks and financial institutions in launching, operating and scaling card programmes.
In May, the firm secured $175m in investment to support its expansion.
