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You can now use eftpos cards with Samsung Pay

Posted: 13 October 2020 8:00 am
News

samsung pay eftpos

The new partnership between Samsung Pay and eftpos offers a number of benefits, including instant payments.

A new partnership between Samsung Pay and eftpos means you'll have more options than ever for tapping and paying using your mobile phone. eftpos and Samsung Pay have come together to allow you to add eftpos cards to the mobile wallet, letting you benefit from convenient contactless payments using those cards through your mobile phone.

Until now, you have only been able to make payments through Samsung Pay using Mastercard or Visa. Now you can add any eftpos-enabled card, of which there are 50 million in Australia.

Heritage Bank is first to offer the solution with more partners expected to launch similar offerings over the next few months.

"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 head of services at Samsung Australia Mark Hodgson.

eftpos CEO Stephen Benton said eftpos cardholders will embrace Samsung Pay for everyday payments. The payments provider is experiencing 20% growth month on month for eftpos mobile transactions. He cited the benefits offered to cardholders for opting for mobile payments.

"[...] You only need to take your mobile when you go shopping," Benton said. "There's no need to carry an extra card to access cash if you need it."

How Samsung Pay + eftpos works

Samsung Pay allows you to make contactless payments using your mobile phone rather than with your card. It functions as a digital wallet, allowing you to add multiple debit and credit cards and choosing which one you want to pay with.

If you've already loaded a debit card into Samsung Pay, the payment will have been run through the Mastercard or Visa network. Now, if your card is eftpos-enabled (check for the "eftpos" symbol), you will be able to have the payment go through the eftpos network.

What are the benefits of using eftpos rather than Mastercard or Visa?

Having your payment charged through eftpos rather than Mastercard or Visa means your transactions are processed in real-time. When you tap and pay with a Mastercard or Visa, you'll notice the transaction will be listed as "pending" for a while after you've made the purchase. With eftpos, your account will be charged automatically.

If you use eftpos with Samsung Pay, you will also be able to take cash out with selected retailers. You're unable to do this when you use the Mastercard or Visa option because the transactions aren't processed immediately.

Is there anything to keep in mind?

All transport transactions made through Samsung Pay will be charged through Mastercard or Visa, so keep this in mind if you've set up a transport card in the mobile wallet. If you've already added debit cards to Samsung Pay, you will need to update the Samsung Pay app and re-load your cards to be able to pay using eftpos.

How to set up your eftpos cards in Samsung Pay

Setting up cards in Samsung Pay is relatively straightforward. Here's what to do:

  1. Download the Samsung Pay app if you haven't got it already.
  2. Sign in to your Samsung account and accept any terms and conditions.
  3. Verify your fingerprint or set up a four-digit login. Iris verification may also be available depending on your device.
  4. Select "add card" and either take a photo of your eftpos card or enter the card details.

Remember, if you already have debit cards set up with Samsung Pay, you will need to update the Samsung Pay app and re-load your cards to see the eftpos payment option.

Want to know more about mobile payments? Take a look at our hands-on review of Samsung Pay and the Australian banks that have partnered with Samsung Pay. If you're an Apple user, check out our guide to Apple Pay.

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