Westpac and MasterCard are collaborating on a new pilot Android Mobile Contactless Payment application (view press release). Android handsets will be equipped with a secure element embedded in the SIM card. In conjunction with their virtual Debit MasterCard on the phone, users will be able to pay for goods and services by tapping their phones on an NFC MasterCard PayPass payment terminal.
“Online and mobile are the cornerstone of Westpac’s business,” said Westpac’s Head of Mortgages, Cards and Merchants, Axel Boye-Moller. “Currently 3.4 million Westpac customers are digital customers, 43 per cent 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.”
Participants in the pilot will provide feedback on their experiences will be incorporated into the final product.