Commonwealth Bank of Australia (CBA) has joined forces with MasterCard and Samsung to allow its MasterCard cardholders securely load and store payment account credentials on select flagship NFC-enabled Samsung devices.
CBA will offer this service to its customers, using Mobile MasterCard PayPass within its CommBank app on the embedded secure element of the Samsung Galaxy S4.
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Through this service, Commonwealth Bank customers will now be able to add contactless payment functionality to their Samsung Galaxy S4 that enables contactless payments at the more than 1.6 million MasterCard PayPass contactless merchant locations across the globe.
MasterCard group executive of mobile and industry alliances, Mung Ki Woo, said: "With today’s news, we are ensuring that MasterCard cardholders can ‘light up’ Samsung devices for payments as they become available in the market. Our focus is on helping consumers shop and pay in a way that best fits their needs, across all of their devices."
Along with financial institutions and mobile network operators worldwide, MasterCard and Samsung are planning to complete similar service launches over the next year, including in Turkey, Russia and the Ukraine in the first quarter of 2014.
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By GlobalData
