Samsung Pay has become the first smartphone mobile wallet provider in Australia to be made available to customers of the ‘Big Four’ banks in Australia, following its partnership announcement with National Australia Bank (NAB).
NAB’s customers – along with those of the three other ‘Big Four’ banks and over 45 financial institutions in Australia – now have access to Samsung Pay and can load their Visa credit and/or debit cards to make payments via compatible Samsung smartphone devices and wearable products.
The service provides users with a simple and secure way to pay and also allows users to load their loyalty cards to capture reward points at the point of sale, which lessens their reliance on a physical wallet.
“We’re thrilled to be able provide the Samsung Pay experience to even more Australians. 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,” said Mark Hodgson, Head of Product and Services at Samsung Electronics Australia.
“Today’s announcement also represents an important milestone as we are now able to provide Samsung Pay to all major banking customers across the nation. We believe that our collaboration with partners like NAB will help further enhance our mobile experience for Australians and look forward evolving the portfolio further over the upcoming year.”
The announcement comes after the recent launch of the Galaxy S9 and S9+ smartphones which have received positive reviews from technology experts and customers. In Australia, pre-sales results for the S9 and S9+ have broken previous records for Samsung in this market.
“NAB is giving customers more choice when it comes to digital wallets,” said Angus Gilfillan, NAB Executive General Manager of Consumer Lending.
“In addition to our own mobile banking app and NAB Pay, we are continuing to invest in giving our customers the best digital payments experience. We know our customers increasingly want to be able to pay for their purchases quickly and conveniently, and Samsung Pay is a safe and secure digital wallet that they can now use,” Gilfillan said.
Samsung Pay offers multiple security features; a tokenised card number for the user, which means no sensitive payment card information is stored on the device, and it also requires pre-payment authentication via PIN, iris or fingerprint.
The Samsung Pay app is housed on Samsung’s security platform Knox, which has undergone a series of rigorous security procedures making Samsung Pay a more secure and trusted payment platform, according to Samsung.
Additionally, users receive remote access to the Find My Mobile website to easily lock their mobile phone device and prevent access to Samsung Pay if their device is misplaced.