Samsung recently announced that its contactless payment service is now available for customers of Bendigo Bank with an eligible debit or credit card and a compatible Samsung device – including the Gear S3 Smartwatch and most recent Samsung phones.
Bendigo Bank’s Chief Customer Officer Marnie Baker noted, “the app offers customers greater choice and flexibility in how they make payments.” According to RFi Group data, 9 in 10 transaction account holders currently own a smartphone and of this, over 1 in 10 have used their phone to make a mobile payment.
"According to RFi Group, over 1 in 10 have used their phone to make a mobile payment."
With constant chatter about contactless payments displacing cash, RFi Group data shows the trend of decreasing cash usage globally as NFC mobile payments increase. Security consistently drives the preference for bank branded proprietary wallet with perceptions of trust and security being high, meanwhile the perception of wider acceptance continues to drive preference for third-party wallets.