Home Development Samsung nabs NAB as all four big banks now offer Samsung Pay

Samsung has nabbed victory by nabbing major Aussie bank NAB in its quest to see Australia's four big banks all offering access to Samsung Pay, as ever more consumers make payments via mobile devices.

Samsung proudly boasts its Samsung Pay service "has become the first smartphone mobile wallet provider in Australia to be made available to customers of the ‘Big Four’ banks in Australia, following today’s partnership announcement with National Australia Bank", as part of the NAB's "NAB Pay" system.

We're told that "NAB’s customers — along with those of the three other ‘Big Four’ banks and over 45 financial institutions in Australia — now have access to Samsung Pay and can load their Visa credit and / or debit cards to make payments via compatible Samsung smartphone devices and wearable products".

As you'd expect, Samsung says this announcement demonstrates its "pledge to making mobile wallets a convenient part of everyday life for millions of Australians", and naturally, Samsung states that today’s announcement positions the company "as a leading player in the mobile payments landscape", which certainly makes it quite the Samsung Pay day!

The service is described as not only providing "users with a simple and secure way to pay, but also allows users to load their loyalty cards to capture reward points at the point of sale, which lessens their reliance on a physical wallet".

Mark Hodgson, head of Product and Services at Samsung Electronics Australia, said: “We’re thrilled to be able provide the Samsung Pay experience to even more Australians. Our partnership with NAB builds on our commitment to providing a simple and secure digital wallet experience to every Australian using a Samsung smartphone or wearable.

“Today’s announcement also represents an important milestone as we are now able to provide Samsung Pay to all major banking customers across the nation. We believe that our collaboration with partners like NAB will help further enhance our mobile experience for Australians and look forward evolving the portfolio further over the upcoming year.”

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The announcement comes after the very recent launch of the Galaxy S9 and S9+ smartphones which Samsung states "have received positive reviews from many technology experts and customers alike. In Australia, pre-sales results for the S9 and S9+ have broken previous records for Samsung in this market".

Angus Gilfillan, NAB executive general manager of Consumer Lending, said: "NAB is giving customers more choice when it comes to digital wallets.

“In addition to our own mobile banking app and NAB Pay, we are continuing to invest in giving our customers the best digital payments experience. We know our customers increasingly want to be able to pay for their purchases quickly and conveniently, and Samsung Pay is a safe and secure digital wallet that they can now use."

Samsung reminds us that Samsung Pay "offers multiple security features; a tokenised card number for the user, which means no sensitive payment card information is stored on the device, and it also requires pre-payment authentication via PIN, iris or fingerprint".

The Samsung Pay app is housed on Samsung’s "Knox" security platform, which the company says "has undergone a series of rigorous security procedures making Samsung Pay a secure and trusted payment platform".

Additionally, Samsung says, "Users also receive remote access to the Find My Mobile website to easily lock their mobile phone device and prevent access to Samsung Pay if their device is misplaced."

Samsung explains that "in order to prevent access to Samsung Pay if the device is misplaced, users must log into Samsung's Find My Mobile site using their Samsung Account login details, select ‘Lock my Device’ and then click ‘Lock’.”

Having first launched in Australia in June 2016, Samsung Pay has "partnered with hundreds of banks worldwide, processing millions of transactions via the Samsung Pay payments platform".

Compatible Samsung smartphones include:

Galaxy S9 and S9+, Galaxy Note8, Galaxy S8 and S8+, Galaxy S7 and 7 edge, Galaxy S6 edge+, Galaxy S6 and S6 edge, Galaxy A7, Galaxy A5, Galaxy Note5, Galaxy J5 Pro.

Compatible Galaxy wearables include:

Gear S3, Gear S2, Gear Sport.

More about Samsung Pay is here.

iTWire's coverage of CBA's Samsung Pay service is here, ANZ is here, Westpac is here, Suncorp is here, Bendigo Bank is here, with stacks of other Australian financial institutions here.

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

 

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