The Commonwealth Bank of Australia (CBA) has become the latest issuer to enable tokenised, contactless transactions to be made on Samsung Pay via the Eftpos network.
The solution allows users on Samsung Pay to choose between making debit card payments via Eftpos or via the Mastercard network. Eftpos said users can make the choice through a simple toggle on the user interface.
Using the solution, CBA customers can also withdraw cash and check account balances in real-time.
“At a time of year when Australians can really benefit from the added conveniences of a true wallet replacement in the palm of their hand, we hope this will save CBA customers precious time when going shopping,” Eftpos CEO Stephen Benton said.
The solution is available to CBA customers on the latest version of Samsung Pay, and requires users to reload their cards to see the Eftpos payment option.
The solution initially went live in October where Heritage Bank was named as the first issuer.
See also: Cash payments plummet thanks to pandemic
In other banking news, National Australia Bank (NAB) has partnered with retail fintech Slyp to launch a feature to enable NAB customers to automatically receive itemised receipts from participating retailers via their NAB mobile app when they make a purchase.
The feature works when a merchant’s point-of-sale system is integrated with Slyp technology, allowing near real-time capture of relevant tax receipt information. The Slyp platform then creates and matches the “smart” receipt to the customer’s bank card, before sending it directly to the customer’s banking app.
NAB customers can opt-in to the feature within their NAB mobile app.
NAB executive Ana Marinkovic said the feature reduces the need for paper receipts.
“We often hear from customers that receipts are lost or not needed, so we think the smart receipt will make life a lot easier for them. If the customer ever needs to look back or share the receipt, it’s there inside the NAB app,” she said.
Chemist Warehouse, CUE, Barbeques Galore, Harris Farm, Industry Beans, and Watsons Bay Boutique Hotel have been named as initial participating retailers. NAB said there are plans to add more in the new year.
The bank added customers would also be able to continue to scan and save receipts within the NAB mobile app from non-participating retailers.
Eftpos signs deal to buy big bank-backed Beem It
The acquisition is a strategic move for the payments company as it continues to make inroads in the digital space.
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Afterpay will soon be offering Westpac products and tools to its customers under the deal.
COVID-19 pushes Westpac to jump on Apple Pay
Westpac also announced it would be copping a AU$2.2 billion impairment charge in its first half financial results as a result of the global COVID-19 pandemic.
Eftpos rolls out digital payment service
Initially focusing on processing regular card-on-file payments.