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Latest News for investors: Apple Pay


London, 10 June 2015: Proxama PLC (AIM: PROX), the international mobile commerce Company specialising in proximity marketing, and a leading provider of end-to-end payment solutions for card issuers, makes the following statements following the announcement that Apple Pay will be launched in the UK in July, and explains the relevance of this announcement to Proxama’s recent launch of their Digital Enablement Platform™ (DEP).


What this means for Proxama and mobile payments:


  • Apple announced this week at its World-Wide Developer Conference (WWDC) that Apple Pay will be launched in the UK in July, sooner than many industry observers expected. As has been seen with the adoption of other technologies, once Apple chooses to move, others will likely follow, and Proxama therefore expects businesses to accelerate their plans towards the switch to mobile contactless payments in the UK.
  • Apple Pay, launching initially in the US and now in the UK and elsewhere around the world, fully endorses our long-held vision of smartphones being used for digitised card-based payments. It will accelerate Proxama’s ability to allow card issuers to enable their card portfolios for mobile deployment. This also holds true for non-Apple phones where Proxama can provide a complete end-end solution for mobile card provisioning and transaction processing via DEP.
  • Both Proxama’s DEP and Apple Pay follow the EMV specifications for payment apps and transactions at point-of-sale, making the solution compatible with all the contactless payment terminals already installed in the UK. Proxama’s DEP empowers card issuers and processors to independently manage their digital payments strategy with a solution that today already supports mobile contactless payment deployments, and that will grow with them as Apple Pay and other emerging payment models open out to in-house management and control.


Mike Woods, CEO of Proxama’s Payments Division, commented:
“The launch of Apple Pay is good news for Proxama and the mobile payments sector in general. Apple is the market leader, and their commitment to mobile contactless payments and Near Field Communication (NFC) technology will mean that the rest of the industry and the banking sector will have to accelerate their implementations to keep pace. At Proxama we share the same objectives and support the same technology, and so are well positioned to help financial services companies mobilise their customers to adopt mobile payments and complementary value-added services such as loyalty via their smartphone.”

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