Société Générale SA (SCGLY) said in a brief statement Monday, Nov. 20, that it plans to offer Apple Pay to its customers soon.
It's an important step for the smartphone payment system, as Société Générale is the first major retail bank to sign on, according to a report from NDTV's Gadgets 360. Apple already struck deals in France with some savings banks and a startup online bank created by telecom company Orange SA (ORAN) - Get Report , plus supermarket chain Carrefour SA (CRRFY) .
Apple launched its Apple Pay service in France about one year ago. The system allows for secure payments in stores, inside apps and on the internet using fingerprint scanning on iPhones for payment authorization.
Apple stock fell 0.26% to $169.71 midday Monday. Société Générale over-the-counter shares fell 0.59% to $10.12.
More of What's Trending on TheStreet: