Samsung Pay Adds Eftpos As Mobile Transactions Surge
Samsung users will soon be able to use Samsung Pay for eftpos transactions thanks to a new collaboration between the manufacturer and the network, as mobile eftpos payments climb 20 per cent month on month.
More than 50 million eftpos-enabled bank cards are currently in circulation, and the new partnership – which will allow tokenised contactless payments to be made on the eftpos network using Samsung Pay – is launching first with Heritage Bank, with other card issuers expected to sign on in coming months.
According to Mark Hodgson, Head of Services at Samsung Australia, Samsung Pay users will be able to use a simple toggle within the app to switch between eftpos and Visa transactions.
“Samsung puts customer experience at the centre of everything we do and, through our partnership with eftpos, we are providing Australian customers with more choice and control over their contactless payment transactions.
“We are proud to launch with eftpos and Heritage Bank. This collaboration is a great example for how service providers can bring their best innovation together and deliver breakthrough experiences for Australians,” he said.
Stephen Benton, CEO of eftpos, predicts customers will embrace Samsung Pay for their everyday purchases.
“We are already experiencing on average 20 per cent growth month on month across eftpos mobile transactions. With Australians showing a greater preference for contactless payments during the COVID-19 pandemic alongside the launch of Samsung Pay for our eftpos cardholders, we don’t expect this trend to slow down anytime soon,” he said.
Rival service Apple Pay already supports eftpos transactions.