Chime, the bank account “that helps its members lead healthier financial lives and automate their savings,” has announced support for Apple Pay.
With the addition of Apple’s mobile payment service, Chime members can make mobile payments at retailers nationwide as well as within their favorite apps. By adding Chime to Apple Pay on their iPhone, iPad, or Apple Watch, members can also benefit from Chime’s Automatic Savings and rewards when they make purchases with Apple Pay.
When you use a credit or debit card with Apple’s payment service, the actual card numbers aren’t stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.
On Tuesday, Apple updated the roster of U.S. banks supporting Apple Pay with another 30 entries.
