Commonwealth Bank has partnered with MasterCard and Samsung to create a new mobile payment solution using Samsung’s popular Galaxy S4 smartphone.
The Commonwealth Bank is the first in the world to offer its customers MasterCard PayPass payments using the built-in NFC (near field communications) feature aboard Samsung’s Galaxy S4.
The CommBank app installed on the Galaxy S4 can now work with built-in NFC and allow the customer to complete the transaction when they device is waved near the store’s terminal.
There are more than 220,000 PayPass contactless terminals across Australia as well as 1.6 million merchants worldwide.
“As Australia’s leading technology bank, we have successfully driven this innovation, working with MasterCard and Samsung, to bring our customers mobile payment solutions of the future, today,” said Angus Sullivan, executive general manager cards, payments, analytics & retail strategy, Commonwealth Bank.
“Mobile wallets are poised to become a reality with the introduction of Tap & Pay, as customers embrace having greater control and access to their finances.
“Today marks the next step in the introduction of a mobile wallet into our everyday lives, simplifying the convenience of payments from our phones and laying the foundations for future innovations.”
The new payment system will be available to CommBank customers who download and sign up for the CommBank app using the Samsung Galaxy S4 model numbers i9505 and i9507.
And like all other CommBank mobile transactions it is backed 100 per cent money back guarantee.
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