FutureFive NZ - Two million ANZ consumers now have access to future of payment

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Two million ANZ consumers now have access to future of payment

Gone are the days of bank cards and cash transactions as more and more consumers opt into mobile purchasing methods.

This way of payment is slowly being adopted across APAC as well and most recently has become available to ANZ customers.

Eftpos announced that eftpos is now available on Android Pay, with ANZ and Cuscal being the first financial institutions to make the service available to eftpos-only cardholders.

The service will use Australia’s first domestic Token Service Provider (TSP) for increased security, by removing confidential consumer card data from the eftpos payment network and replacing it with a unique payment token. 

The eftpos TSP, which was built in partnership with Rambus, enables eftpos to generate and manage its own payment tokens, facilitating secure digital payment experiences for eftpos cardholders.

ANZ and eight Cuscal sponsored credit unions and banks are all offering their customers the choice of using eftpos.

Paul Jennings, Android Pay CEO says, “Almost 2 million cardholders will now be able to make eftpos payments on their Android mobile devices. 

“This will bring the convenience of secure, in-store mobile payments to many Australians for the first time.”

“We are thrilled to team up with Google, ANZ and Cuscal to provide customers with access to their own money via their Android mobiles at the shops, with added benefits such as the ability to track their bank balances in real time.”

To use the service, cardholders simply need to download Android Pay at the Google Play Store and follow the prompts.

Pali Bhat, Google VP of product management says, “We're excited to bring the security and simplicity of mobile payments via eftpos for Android device owners. 

“Using Android Pay is more secure, and much faster, than rummaging through your wallet for a plastic card.”

“That’s why we've worked with eftpos to enable Android Pay at almost 800,000 contactless payment terminals in Australia where people can seamlessly Tap and Pay with eftpos using their Android devices."

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