Westpac debit and credit card holders can now tap and pay with Samsung Pay
Westpac has become the first of Australia’s big four banks to adopt mobile payment system Samsung Pay, with the Korean electronics giant and smartphone manufacturer announcing the partnership earlier today.
Credit and debit card customers with Westpac will now be able to use a number of compatible Samsung smartphones and smartwatches for tap-and-go transactions, including the soon to be released Galaxy S8.
“Our mobile customers want access to the best technology so we are delighted to add Samsung Pay, one of the world’s most popular mobile payment platforms, to our range of mobile payment options,” said George Frazis, Chief Executive Consumer Bank at Westpac.
“Samsung Pay is just one of many digital solutions that we are progressively introducing to our nine million customers to offer them more flexibility, convenience and choice.”
Samsung already has partnerships in Australia with Citibank and American Express for credit card holders, but the new arrangement will allow millions of Westpac debit and credit card users to make use of the mobile payment system.
“Through our partnerships with Australian financial institutions and loyalty card providers, we are bringing our customers closer to replacing their physical wallets with their Galaxy smartphones,” said Richard Fink, Vice President of Samsung Australia’s Mobile Division.
Rival mobile payment system Apple Pay has a number of existing agreements of its own with Australian banks (including ANZ, ING, Macquarie and American Express), as does Android Pay (including ANZ, Westpac, Bendigo and American Express).
Samsung Pay users are able to load their credit, debit and loyalty cards into the Samsung app before making contactless payments on their smart devices using secure Near Field Communication (NFC).
Owners of the new Galaxy 8 smartphones will even be able to use iris scan as an authentication method for extra security before making transactions with Samsung Pay, which will complement the existing PIN and fingerprint security measures.