Australia and New Zealand Banking Group (ANZ) has added Apple Pay and Android Pay support for its MasterCard customers.
Now, more than 500,000 ANZ customers with a MasterCard credit card can use Apple Pay and Android Pay wherever contactless payments are accepted.
ANZ managing director products and marketing Matt Boss said: “Our customers have responded really well to the launch of Apple Pay and now our customers can make mobile payments with MasterCard credit cards as well.
“At ANZ we are working hard to build the best digital bank for our customers and this is another important step towards that goal.
“Our customers want choice in the way they bank and where they bank, and we know our MasterCard customers, both consumers and merchants will be pleased with this news.”
When a consumer adds a credit card to Apple Pay, the actual card numbers are not stored on the device or on Apple servers; instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on the device. Each transaction is authorised with a one-time unique dynamic security code.
Android Pay promoted by Google uses tokenisation security to protect card numbers by never sharing them with the merchant or saving them on the device.
MasterCard Australasia head of market development and innovation Garry Duursma said: "MasterCard supports innovation, and the launch of Android Pay is a great example of this in the payment space.
“MasterCard’s Digital Enablement Service (MDES) powers the secure service for ANZ, ensuring cardholders are able to make safe and convenient payments from their Android mobile devices."