ANZ and CUA among first to offer eftpos on Android Pay

ANZ and Cuscal-sponsored credit unions including CUA today announced their eftpos cardholders can now make payments using Android Pay.

The nine institutions, including People’s Choice Credit Union, Sydney Credit Union, Woolworths Employee’s Credit Union, Nexus Mutual and FCCS, are the first in Australia to officially offer this payment method to eftpos cardholders, enabling almost two million people to pay using their Android mobile devices.

This follows the announcement Commonwealth Bank, Westpac and NAB are collaborating to launch a mobile payments platform, Beem, to make instant contactless payments with eftpos cards.

Canstar’s Group Manager of Research and Ratings Mitch Watson said the new offering meant ANZ customers would have access to mobile payments regardless of their choice of smartphone and credit or debit card.

“This puts them ahead of the other Major Banks when it comes to the choice their customers have among digital wallet technology,” Mr Watson said.

“With Australia’s high utilisation of contactless payments, ANZ’s move means its customers are closer to being able to leave home with just their smartphone or smart watch.

“Digital payments promise increased security over the use of physical cards.”

The Android Pay service increases security for consumers by using Australia’s domestic Token Service Provider (TSP) that removes confidential card data from the eftpos payment network and replaces it with a unique payment token.

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Source: ANZ and CUA among first to offer eftpos on Android Pay | Canstar