A local German news site is reporting that Apple is finally bringing its iPhone payment service Apple Pay to Germany some four years after it was first launched in the US. The service will be introduced in the Bundesrepublik (Federal Republic) by the end of the year, CEO Tim Cook said on Tuesday at a presentation of current quarterly figures. Cook did not initially disclose further details such as the names of participating supermarket chains.
With Apple Pay, users can pay for their purchases by holding their iPhone or Apple watch against the payment terminal at a checkout desk. A prerequisite for payment with the system is that the terminal is equipped with Near Field Communication (NFC) technology. Apple Pay can also be used to pay for online purchases and apps.
The financial services adopting Apple Pay in Germany include: American Express, boon., bunq, comdirect, Deutsche Bank, fidor BANK, Hanseatic Bank, HypoVereinsbank/UniCredit Bank AG, N26, o2 Banking, Ticket Restaurant Edenred, VIMpay, Visa, and Mastercard. It is also supported by a number of major retailers, and this will grow as the service continues its roll out.
Apple's CEO Tim Cook said earlier today that Apple Pay is currently available in 24 countries. Cook added that in the past quarter, one billion transactions were processed via the service - more than three times as many as a year ago.