HSBC Apple Pay review

In early May 2017, HSBC joined the growing number of (mostly smaller) banks in Australia that offer Apple Pay support. As a HSBC customer and iPhone user, I was thrilled to see this announcement and have already taken it for a spin to test out the service.

I currently hold the HSBC Platinum Qantas Credit Card. I signed up to the card earlier this year to take advantage of the 60,000 bonus points on offer after reaching $3000 in spend. The card offers 1 Qantas Point per dollar spent for the first $2,500 per statement period and then 0.5 Qantas Points for each dollar after that.

I was a bit surprised to see HSBC’s announcement for Apple Pay support given that the rest of their technology offering, such as their app and internet banking, is very clunky and dated. Even the simple act of logging in is made overly complex.

Thankfully Apple Pay is very easy to setup. Infact, I was able to complete the setup whilst on holiday in Japan using Wi-Fi. To begin, you simply open the Wallet app and scan your credit card using the camera. The app will prompt you for some additional card details and information about yourself, before sending an SMS code to verify you’ve authorised the change.

That’s it, once you’ve completed the one time setup you can access the card at any time by double pressing the home button. This will pop up the card payment screen where you simply touch your fingerprint on the home button to enable the card. Hold the iPhone near a contactless payment terminal to make a payment.

Australia (along with Singapore and New Zealand) is a world leader in contactless payments, with a survey from May 2015 indicating that 53% of Australian respondents had made a contactless payment compared to just 9% in the United States. Even prior to Apple Pay’s arrival, a huge number of Australian retailers were already accepting credit card contactless payments. The good news is that most contactless payment terminals will also happily accept Apple Pay transactions, which means there is a large number of retailers where you can use your HSBC card with Apple Pay.

In summary, it’s really great to see another bank offering Apple Pay in Australia. The convenience and easy of use of the service is really second to none. We’re slowly moving towards a world where the phone is replacing everything in our pockets. First it was the MP3 player; then it was the digital camera; and now it’s the wallet. And for that I am excited.

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