Westpac and MasterCard launch new pilot application for mobile payments
7 August 2012
Westpac in collaboration with MasterCard are powering towards a future led by mobile payments with the announcement today of a new pilot Android Mobile Contactless Payment application.
The pilot will see android handsets fully-equipped with a secure element embedded in the SIM card, meaning no additional hardware attachments are required. 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 (Near Field Communications) MasterCard PayPass™ payment terminal1.
Those participating in the pilot will be instrumental in the application's development as the program enables them to provide regular feedback on their experiences. Their insights will then be integrated into the final product offering to ensure that the solution offers a tailored mobile purchasing experience.
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. 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.
“Mobile banking represents a significant change in the way customers and banks do business and Westpac customers will be instrumental in helping design the final application.”
MasterCard Australia's Head of Market Development and Innovation, Matt Barr says it won't be long until the wallet as we know it, changes for good.
“With the number of contactless terminals throughout Australia increasing significantly, the desire from both consumers and merchants for fast, convenient mobile payments solutions is ever-increasing. MasterCard's vision of a world beyond cash is being realised as organisations like Westpac take bold steps toward a mobile payment future.”
The pilot is the latest innovation in Westpac Group's expanding mobile offering which includes Mobile PayWay, Budget Planner and the bank's iPad2 application.
1. Applies to transactions of $100 or less.
2. iPad is a trademark of Apple Inc., registered in the U.S and other countries.
BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
MasterCard® is a registered trademark of MasterCard International Incorporated.
PayPass is the trademark of MasterCard International Incorporated.