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Apple Pay is open to Coop Pank clients

Starting from today, July 18, 2023, holders of Coop Pank card can use Apple Pay, which is a convenient, fast and secure way to make payments both in the store and online.

All debit and credit cards of private and business customers of Coop Pank can be used in the Apple Pay digital wallet. To use Apple Pay, it must be set up at Coop Pank mobile app or via Apple Wallet.

To make an instant payment using Apple Pay, you need to hover your iPhone or Apple Watch over the payment terminal at the place of purchase, similar to making an instant payment with a regular card. In addition to stores, Apple Pay can also be used to pay for purchases at online stores and apps marked accordingly. Payments via Apple Pay are subject to the limits set on the bank card, which can be checked and changed in Coop Pank's mobile and internet bank.

Rasmus Heinla, head of private customer banking at Coop Pank, said that Apple Pay is a digital wallet that can be used to pay conveniently both in stores and online. "The advantage of Apple Pay over regular card payments is greater security. To make instant payments, the user must identify himself with the security code of his device or biometrics before making the payment. However, in the case of online purchases, the bank card data is no longer transmitted to the store, but the payment is confirmed through the Apple payment system. Therefore, when paying with Apple Pay, the customer can be sure that his card data is securely protected," said Heinla.

You cannot use Apple Pay to make cash transactions in Coop stores - you still need a physical Coop Pank bank card to pay or withdraw cash at Coop cash registers. Also, Coop Pank's physical bank card is needed in stores to receive customer card discounts and to use the self-service remote.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 160,400 everyday banking customers. Coop Pank uses the synergy between retail trade and banking and brings everyday banking services closer to home. The bank's strategic owner is the domestic retail chain Coop Eesti, which has 320 stores in its sales network.