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Beyond the Transaction: Every Transaction Has a Story

Android Pay to launch in Australia with MasterCard

With the announcement that Google will be launching Android Pay in Australia this week, MasterCard cardholders and Android device owners from Bendigo Bank and Macquarie Bank will soon have additional safe and secure ways to make mobile payments and purchases.

For MasterCard users, Android Pay enables credit, debit and prepaid cardholders to use their eligible Android smartphones for everyday purchases in-store and within Android apps.

When it comes to new technology, Aussies aren’t shy to trial and embrace. Australians were among the first to trial contactless payments, and have since become the leading users with more than seven out of ten in-store MasterCard transactions made using our contactless technology.  The launch this week by Google is yet another example of the world continuing to embrace innovation in payments, and with 780,000 contactless payment terminals now available around the country (and more than five million worldwide), there is no doubt Australians are poised to take the adoption lead again.

How will it work? Once a MasterCard cardholder downloads the app and sets up an account, making a payment with Android Pay at a store is simple, safe and secure. To pay, customers just wake their device, hold it near a payment terminal at any location that accepts MasterCard contactless payments, and their payment will be complete. MasterCard built the foundation for secure digital transactions, so consumers can use their cards when, where and how they want.

How did we do it? In setting up a device for Android Pay, MasterCard generates a digital “token” that is associated with that device and stored on a secure server. There is a separate token assigned to each of the consumer’s devices, which means that not only is the token number different from the ‘real’ card number but it is also prevented from transacting via any other device. When the consumer uses their mobile device in a transaction, it is the token and not the real card number that is provided to the retailer. For consumers and retailers alike, every purchase made with a MasterCard using Android Pay offers all the benefits and guarantees of a transaction with the physical MasterCard card.

The strength of our technology means that consumers can enjoy both security as well as simplicity, and feel confident about using their MasterCard accounts for everyday purchases.

As the offline and online worlds now become one, and there is an increase in the numbers of digital based transactions, safety and convenience aren’t the only benefits to customers. Added value through the integration of loyalty and rewards programs are just a tap away!

For more information about Android Pay and to view a full list of participating issuers, visit here.