Apple Introduces New iPhone Wallet Feature in the UK, Leveraging Open Banking API for Real-Time Account Balances and Transactions

Apple Introduces New iPhone Wallet Feature in the UK, Leveraging Open Banking API for Real-Time Account Balances and Transactions

Apple's Wallet Feature Powered by Open Banking API, Allows UK Users to View Account Balances, Recent Transactions, and Apple Pay Expenditures in iOS 17.1 Beta

The new Wallet feature, introduced in the iOS 17.1 developer beta, empowers users to access their account balances, along with a detailed overview of recent deposits and payments. Notably, it also provides users with up-to-date account balances following transactions made using Apple Pay. To utilize this feature, users must first grant authorization through the Wallet app and subsequently undergo authentication via their respective bank’s app or website. It’s essential to note that all banking data remains strictly stored on users’ devices, with no data residing on Apple’s servers.