Australia and New Zealand Banking Group (ANZ) has signed an agreement with NXT-ID’s subsidiary Fit Pay to offer new contactless payment devices for customers in Australia.
Under the terms of the agreement, ANZ cardholders will be able to carry out simple, secure tap-and-go payments at near-field communication (NFC)-enabled point-of-sale locations.
ANZ will be part of Fit Pay’s Token Requester Programme that allows secure addition of payment credentials to devices integrated with the FitPay contactless payment platform.
The platform leverages the tokenisation payment security technology designed to replace cardholder account information with a unique digital identifier to ensure secure payments at NFC-enabled terminals.
Fit Pay president Michael Orlando said: “We are very pleased to be working with one of Australia’s leading banks to help drive the adoption of new contactless payment technology.
“Australians have embraced the convenience of tap and go payments. This agreement allows them to enjoy that same frictionless payment experience on a wider variety of devices.”
Manufacturers of 15 IoT and wearable devices, which will meet ANZ’s technical, usage, security, branding and consumer experience requirements, have decided to adopt the FitPay platform.
These manufacturers are expected to introduce their devices next year.