CommBank looking to take lead in m-payments space with MasterCard

Mastercard

Partnering CommBank

Commonwealth Bank is partnering with MasterCard and Samsung Electronics Australia to become the first bank globally to offer its customers MasterCard PayPass payments capabilities via NFC enabled Samsung GALAXY S4 devices. The collaboration aims to deliver a next-generation shopping experience.

The CommBank offering has been made possible by a convergence of hardware, software and mobile banking technologies, which leverage Mobile MasterCard PayPass technology and Samsung’s global NFC payment infrastructure. Transactions are processed via the CommBank app on Samsung GALAXY S4 (i9505 and i9507) smartphones sold in Australia.

The news comes as CommBank looks to take a lead in the mobile banking and payments space, following the release of its enhanced CommBank app this week.

“As Australia’s leading technology bank, we have successfully driven this innovation, working with MasterCard and Samsung, to bring our customers mobile payment solutions of the future, today,” said Angus Sullivan, Executive General Manager Cards, Payments, Analytics & Retail Strategy, Commonwealth Bank.

“Mobile wallets are poised to become a reality with the introduction of Tap & Pay, as customers embrace having greater control and access to their finances. Today marks the next step in the introduction of a mobile wallet into our everyday lives, simplifying the convenience of payments from our phones and laying the foundations for future innovations.”

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