National Australia Bank (NAB) has added support for South Korean tech giant Samsung’s mobile payments service Samsung Pay.
The move will enable NAB customers with an eligible Visa credit or debit card to use Samsung Pay to make contactless payments through Samsung devices or smartwatches.
The new service will complement the Australian lender’s own mobile payment service dubbed NAB Pay.
NAB executive general manager of consumer lending Angus Gilfillan said: “We know Australians increasingly want to pay for their purchases quickly and conveniently. The growth in ‘tap and pay’, and take up of NAB Pay since we launched it two years ago, has been remarkable. By adding Samsung Pay, we’re giving our customers more choice in digital wallets.”
Samsung Pay is now compatible with Australia’s all Big Four banks, namely NAB, Commonwealth Bank of Australia, ANZ, and Westpac. The application launched in Australia in June 2016 and has till date teamed up with over 45 banks in the region.
The payment platform is supported on contactless POS terminals as well as magnetic strip cards without NFC technology. Transactions through Samsung Pay require fingerprint, iris or pin authentication.
Samsung Electronics Australia head of products and services Mark Hodgson said: “Our partnership with NAB builds on our commitment to providing a simple and secure digital wallet experience to every Australian using a Samsung smartphone or wearable. We believe our collaboration with partners like NAB will help further enhance our mobile experience, and we look forward to evolving the portfolio further over the upcoming year.”