Apple Pay has officially launched in Paraguay, providing a mobile payment solution that emphasizes ease, security, and privacy. This service allows customers to avoid handing over their payment cards, pressing physical buttons, or exchanging cash, utilizing contactless technology via iPhones to safeguard each transaction. Starting today, clients of Banco Itaú and Ueno can access this innovative payment method, with more banks expected to join soon.
Over 80,000 merchants equipped with Bancard’s POS systems are now able to accept payments through Apple Pay, whether from mobile devices or Apple Watches. Each Apple Pay transaction is secured through Face ID, Touch ID, or the device's passcode, along with a unique dynamic security code for every purchase, ensuring users can transact with confidence.
Anibal Corina, general manager of Bancard, expressed pride in offering this alternative payment technology, stating that it enhances digitalization opportunities in the country and positions Paraguay alongside or even ahead of other regional technologies.
Apple Pay is already accepted in supermarkets, pharmacies, restaurants, cafes, and various retail locations. Its core features of security and privacy are driving customer preference for this payment method. The payment process is straightforward: users simply hold their iPhone or Apple Watch near the POS, and the transaction is authenticated without the need for a PIN, with optional receipt confirmation.
Remarkably, Apple Pay allows for offline payments using pre-authorized tokens stored on the device, although occasional internet access is necessary for token updates. As digital payment preferences rise, Apple Pay joins existing local payment systems, providing merchants with an additional secure, convenient, and practical payment option.
Importantly, transactions via Apple Pay incur no additional fees for merchants. When customers use Apple Pay, their actual card numbers are not stored on the device or Apple’s servers. Instead, a securely encrypted unique device account number is generated and stored in a secure element, a certified industry-standard chip designed to safeguard payment information.
Setting up Apple Pay is simple: users open the Wallet app on their iPhone, tap “+”, and follow the prompts to add Visa credit, debit, or prepaid cards, as well as Mastercard debit cards. Once added, users can immediately begin using Apple Pay on their devices, enjoying all the rewards and benefits associated with their Visa and Mastercard cards.