Retail bank Société Générale said in a brief statement that it plans to offer its customers Apple Pay soon. The decision comes about one year after Apple brought its Apple Pay to France.

Apple Inc. 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 .

Source: thestreet