Australian Bank Westpac announced today it is working with MasterCard on a new pilot Android Mobile Contactless Payment application.
The pilot will involve Android handsets being fully-equipped with a secure element embedded in the SIM card, meaning no additional hardware attachments are required, said the bank. Together with the user's virtual Debit MasterCard on the phone, participants will be able to pay for items, by tapping their phone in-store on a contactless NFC MasterCard PayPass payment terminal.
Westpac's Head of Mortgages, Cards and Merchants Axel Boye-Moller said Westpac is committed to embedding mobile payments into all aspects of its core business and providing a product offering that redefines the customer experience.
“Online and mobile are the cornerstone of Westpac's business," he said. "Currently 3.4 million Westpac customers are digital customers, 43 percent of whom use their mobile phone to process payments online. The pilot enables simple mobile payments for purchases and reflects our approach towards progressive payment solutions for our customers."
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio