Apple Inc. (AAPL) just scored an important deal.

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) , 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.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells AAPL? Learn more now.

More of What's Trending on TheStreet:

More from Stocks

Is the Cannabis Crazy Equivalent to the Dot Com Bubble? Watch!

Is the Cannabis Crazy Equivalent to the Dot Com Bubble? Watch!

Eventbrite Shares Surge in NYSE Debut

Eventbrite Shares Surge in NYSE Debut

AeroGrow International Is Ready to Sprout With the Cannabis Surge

AeroGrow International Is Ready to Sprout With the Cannabis Surge

Dow, S&P 500 Jump to Record Highs; Wall Street Looks Past Trade Fears

Dow, S&P 500 Jump to Record Highs; Wall Street Looks Past Trade Fears

GE Stock Won't Be a Buy Until It Acts Like George Costanza

GE Stock Won't Be a Buy Until It Acts Like George Costanza