Capital One Financial Corporation (NYSE:COF) has announced that it is working with Apple’s new payment service, Apple Pay, available on the new iPhone 6, iPhone 6 Plus and Apple Watch beginning in October.
Apple Pay adds a new dimension to mobile payments. With Apple Pay, Capital One customers will be able to use their credit or debit cards directly from their iPhone 6, iPhone 6 Plus and Apple Watch to pay for purchases at many of their favorite stores. To pay, customers just need to hold their iPhone 6 near the contactless reader with their finger on Touch ID and payment is made. In addition, Apple Pay will also allow users to pay for a variety of online purchases in apps.
“Working with Apple, we’re excited to bring Apple Pay to tens of millions of Capital One customers,” said Frank LaPrade, Chief Enterprise Services Officer, Capital One Financial Corporation. “We are laser-focused on the evolution of digital products and services. Our goal is to provide our customers with payment options that help them succeed and simplify their lives.”
Apple Pay will be available in the U.S. in October as a free update to iOS 8. Apple Pay works in stores with iPhone 6, iPhone 6 Plus and Apple Watch, and allows customers to pay for goods and services using merchant apps which are compatible with iPhone 6 and iPhone 6 Plus.