Apple is soft launching a new iPhone Wallet app integration today that is powered by the United Kingdom’s Open Banking API, according to 9to5Mac. The Wallet app will now be able to show the user’s current account balance from their bank, as well as a history of deposits and payments. This includes balances for credit and debit cards. The balances will also be shown inline when buying something with Apple Pay, helping users be more financially aware about whether they can responsibly afford the purchase.
This integration is rolling out first as part of the upcoming iOS 17.1 developer beta. It will be available to a subset of Wallet app users in the UK, who have an Apple Pay credit or debit card associated with a supporting bank.
Supporting banks in this initial rollout include Barclays, HSBC, Lloyds, RBS, Monzo, and Starling.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: