Samsung Australia and eftpos have partnered to allow contactless transactions through Samsung Pay via the eftpos network to give users another payment option while using their digital wallet.
So now Samsung Pay users have the choice of making debit card payment via eftpos or with a VISA credit card when making mobile payments.
Today there are more than 50 million eftpos-enabled card being used to make payments
Heritage Bank will be the first to offer eftpos on Samsung Pay with more financial institutions to follow in the coming months.
“We’re absolutely thrilled to lead the way with Samsung Electronics Australia and eftpos to offer our customers more choice in how they access, manage and use their funds,” said Heritage Bank CEO Peter Lock.
“As Australia’s largest customer-owned bank we’re always looking to provide our customers with great banking experiences.
“To be the first issuer in Australia to launch the eftpos-Samsung Pay solution is a fantastic milestone and further builds on Heritage’s expertise as one of the most technologically innovative banks in the country.”
Eftpos payment capability is embedded into every debit card in Australia with transactions processed in real time.
Customers are also able to withdraw cash from selected merchants – a benefit that will also be available with Samsung Pay.
“Samsung puts customer experience at the centre of everything we do and, through our partnership with eftpos, we are providing Australian customers with more choice and control over their contactless payment transactions,” said Mark Hodgson, Head of Services at Samsung Australia.
“We are proud to launch with eftpos and Heritage Bank. This collaboration is a great example for how service providers can bring their best innovation together and deliver breakthrough experiences for Australians.”
eftpos CEO, Mr Stephen Benton, said: “Teaming up with Samsung and Heritage Bank enables their customers with access to their own money via their Samsung smartphone at the shops, with added benefits such as the ability to track their bank balances in real time.
“This means you only need to take your mobile when you go shopping. There’s no need to carry an extra card to access cash if you need it.
“eftpos cardholders will embrace Samsung Pay for everyday payments, as we are already experiencing on average 20 per cent growth month on month across eftpos mobile transactions.
“With Australians showing a greater preference for contactless payments during the COVID-19 pandemic alongside the launch of Samsung Pay for our eftpos cardholders, we don’t expect this trend to slow down anytime soon.”