NAB launches Google Pay across its debit and credit cards
This adds to NAB's existing contactless payment options of NAB Pay and NAB PayTag, Samsung Pay, and Fitbit and Garmin smartwatches.
NAB has today announced the launch of Google Pay across both its debit and credit cards, enabling customers to securely make contactless payments with their smartphone or compatible device. Google Pay allows customers to make tap and go payments with their smartphone in store and online, instead of using their physical credit or debit card. Just like when using your debit card to tap and go, when using Google Pay customers won't need to enter a PIN for their transaction unless it's more than $100.
Google Pay is Google's digital wallet solution and is the combination of Google Wallet, Google Play and Android Pay. Google consolidated the three different, but also very similar, epayment options to form the single brand Google Pay in February 2018 in an attempt to end the confusion among both customers and financial institutions.
Google Pay adds to the list of existing contactless payment options already offered by NAB. The bank already offers NAB Pay, its own ewallet solution for Android users, and NAB PayTag, a sticker that can be attached to a user's iOs device to enable contactless payments without using Apple's own ewallet solution Apple Pay. Plus, NAB also offers contactless payment functionality on Fitbit and Garmin smartwatches, enabling customers to pay with the flick of a wrist without the need for even their smartphone, as well as the popular Samsung Pay.
NAB executive general manager of consumer lending Angus Gilfillian said the bank is seeing an increased demand for more contactless payment options from its customers. "We know our customers want to be able to ‘tap and pay’ – it’s fast, easy, and convenient. Every three months, we’re seeing the number of NAB customers using mobile payments increasing by around 20 percent, and the number of transactions being made through NAB Pay increasing 35 percent."
“We use Visa’s Token Service, which means our customers’ credit and debit card numbers will never be shared when they use their NAB card in NAB Pay, Samsung Pay, or Google Pay. Instead, a virtual account number is used so card details stay safe and secure,” he said.
An obvious gap in the impressive list of contactless payment solutions offered by NAB is Apple Pay. So far, ANZ is still the only Big Four bank to offer Apple Pay to its customers since launching a partnership with the tech giant back in 2016. Since then, NAB, Westpac and CommBank have tried to strike deals with Apple to offer Apple Pay across their brands, to no avail. And to make things more tricky for the banks, in March 2017 the Australian Competition and Consumer Commission (ACCC) made a controversial call to ban the three banking giants from collectively negotiating with Apple. This means if the banks want to strike a deal, they'll need to do so individually.
NAB customers can start using Google Pay from today, by downloading the Google Pay app and adding their debit or credit card details.
- This new HR tool allows workers to access their pay before payday
- ANZ launches ATM cash withdrawals using your smartphone
- New personal finance app, WLTH, launches in Australia
- Xero launches open banking API to seamlessly share banking data
- Savings accounts and term deposit interest rate updates: August 2018