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NAB partners with Samsung Pay

Posted: 26 March 2018 9:30 am
News

NAB credit and debit cardholders can now use their Samsung smartphones and watches to tap and pay.

Making contactless payments has just gotten easier for NAB customers following the bank’s partnership with Samsung Pay today.

NAB customers can now download the Samsung Pay app and follow the prompts to add their eligible Visa credit card or debit card. Once you’re set up, you can tap your Samsung phone or smartwatch against the contactless terminal and make payments of $100 without entering your card PIN. However, you will need to use your phone PIN number or fingerprint to authenticate every transaction.

Rather than storing your card information, Samsung Pay uses a random tokenized security number for each transaction. Your purchases are protected by Samsung Knox technology (which constantly monitors your phone for suspicious transactions) and the usual fraudulent payment protection that comes with your card. If your phone has been lost or stolen, you can also lock your Samsung Pay account remotely online.

Through this alliance with Samsung Pay, NAB hopes to offer cardholders more convenience and choice when making contactless payments.

“By adding Samsung Pay, we’re giving our customers more choice in digital wallets,” said NAB’s executive general manager of consumer lending Angus Gilfillan.

“We see the highest number of NAB Pay transactions being made at supermarkets, restaurants, and at takeaway venues – which is exactly when you want to be able to make quick and easy payments.”

Although cardholders can already use the NAB app to make contactless payments, the bank also commented that a partnership with Google Pay (formerly known as Android Pay) is coming soon.

This also means that Samsung Pay is the first of the major mobile wallets to partner with Australia’s Big Four Banks, leaving Apple Pay and Android Pay falling short.

Want to know which other banks are partnered with Samsung Pay? Check out our comprehensive list to find out.

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Picture: Samsung Pay

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