Westpac and Samsung Electronics Australia on Tuesday announced a partnership whereby the bank will offer Samsung Pay to its debit and credit card holders with compatible Samsung devices.
The deal follows Westpac’s announcement in December that its Mastercard customers with selected Samsung, Sony, LG, HTC, Motorola, Huawei, and Pixel, and other compatible Android devices could sign up to Android Pay.
The partnership with Westpac also adds to Samsung’s existing partnerships with Citibank for MasterCard and Visa credit card holders as well as American Express issued credit cards.
“Partnering with Westpac will bring the security and convenience of Samsung Pay to millions of Australians,” said Richard Fink, Vice President, Mobile Division at Samsung Australia.
“Through our partnerships with Australian financial institutions and loyalty card providers, we are bringing our customers closer to replacing their physical wallets with their Galaxy smartphones."
Compatible Samsung devices include the Gear S3 smartwatch and the soon-to-be-released Galaxy S8 and S8+ smartphones.
George Frazis, chief executive Consumer Bank at Westpac Group said the bank was delighted to add Samsung Pay to its range of mobile payment options.
“Samsung Pay is just one of many digital solutions that we are progressively introducing to our nine million customers to offer them more flexibility, convenience and choice,” he said in a statement.
Samsung also announced that an iris scan will feature as an authentication method for Samsung Pay on the new Galaxy S8 and S8+ smartphones. This will complement PIN and fingerprint as authentication methods, which are required before a user can make a transaction using Samsung Pay.
Samsung Pay has more than 870 bank partnerships worldwide and there has been more than 240 million transactions processed over the past year and a half.