Samsung is now working with the Commonwealth Bank offering Samsung Pay to CBA Mastercard credit and debit card holders.
From today CBA customers can now access Samsung Pay through their Samsung wearables and smartphones.
Michael Baumann, general manager everyday banking and payments at CBA says the partnership with Samsung Pay gives customers more ways than ever to pay.
Garry McGregor, director of IT and mobile, Samsung Electronics Australia says,“Samsung Pay not only provides users with a simple and secure way to pay, but it 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.
“With more than $6 billion of transactions across the CommBank app each week we know that our customers love using their phones to make payments. Since 2013 our customers have been able to use their smartphones to make payments.”
Samsung Pay creates a tokenised card number for the user, which means no sensitive payment card information is stored on the device, and also requires PIN, Iris or fingerprint authentication before making payment.
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. Additionally, the Samsung Pay app is housed on Samsung’s security platform Knox.