To borrow a phrase from the CommBank blog, Australians can’t get enough of contactless payments. The country is the number one MasterCard PayPass market in the world, and now early-adopter Aussies will be able to leverage their Samsung Galaxy S4 handset to turn all those contactless payments into mobile payments, thanks to the foresight of Commonwealth Bank.
This development marks another step on our journey with Samsung to accelerate the adoption of NFC-enabled mobile payments. The CBA is the first bank to offer this service to its customers, and it’s a milestone for MasterCard as well. We are the first payment network in the world to enable live consumer mobile payments using the new security and NFC technology embedded in Samsung flagship phones.
For consumers, the process is simple. Commonwealth customers need only add the functionality to their devices using the CommBank app. Once enabled, they’re ready to pay using their S4 handsets at any of Australia’s 220,000 PayPass contactless merchant terminals or 1.6 million locations around the world.
Consumers have told us they love the convenience of tap-and-go payments for the speed and efficiency. Making those contactless payments even easier through one’s mobile phone is just one of the ways MasterCard is focused on helping consumers shop and pay in a way that best fits their needs.
This is a major development for mobile technology and it’s exciting to see it all come together in Australia.
As I stated earlier, this is the another step on the journey – MasterCard and Samsung, in partnership with financial institutions and mobile network operators worldwide, plan to complete similar rollouts in the first quarter of next year in Turkey, Russia and the Ukraine as well. Stay tuned.