- Security Bank customers may have to wait until the second half of 2027 before they can use Apple Pay and Google Pay with their bank cards.
- Security Bank President and CEO Victor Lee said the bank is targeting the rollout as it upgrades the underlying system that powers its credit card operations. The system changes are the main reason the mobile payment services could not be introduced this year.
- “We’re changing our system, our core credit card system,” Lee said during a media roundtable.
Security Bank customers may have to wait until the second half of 2027 before they can use Apple Pay and Google Pay with their bank cards.
Security Bank President and CEO Victor Lee said the bank is targeting the rollout as it upgrades the underlying system that powers its credit card operations. The system changes are the main reason the mobile payment services could not be introduced this year.
“We’re changing our system, our core credit card system,” Lee said during a media roundtable.
Once available, eligible Security Bank cardholders will be able to link their cards to compatible digital wallets and use supported smartphones and other devices for contactless payments.
Lee said Apple Pay could be particularly relevant to the bank's wealth management customers, around 80% of whom he said use Apple devices.
The planned mobile wallet integration is part of Security Bank's push to expand digital payments. The bank is also looking at QR-based payments as an opportunity to make bank accounts more useful for everyday transactions.
Lee pointed to markets such as Thailand and Cambodia, where wider QR adoption has allowed banks to participate more directly in digital payments. He said banks could potentially retain more of the funds customers use for everyday transactions instead of having those balances move to electronic wallets.
Security Bank currently has 1.71 million customers on its retail digital platform, with about 65% considered active users. The bank is also upgrading its digital platform for corporate and micro, small, and medium enterprise customers as it seeks to expand its payments, collections, and transaction banking services.
The planned Apple Pay and Google Pay support would give eligible Security Bank cardholders another way to make contactless payments if the rollout proceeds as targeted.