Commonwealth Bank Of Australia Customers With A Samsung Galaxy S4 Smartphone Can Now Tap & Pay To Make Secure Contactless Payments At More Than 1.6 Million Merchant Locations Worldwide Where MasterCard PayPass Is Accepted.
MasterCard (NYSE:MA) today announced it will enable Commonwealth Bank of Australia MasterCard cardholders to securely load and store payment account credentials on select flagship NFC-enabled Samsung devices, enabling fast and secure contactless payments.
Commonwealth Bank of Australia is the first bank globally to collaborate with MasterCard and Samsung to offer this service to its customers, using Mobile MasterCard® PayPass™ within its CommBank app on the embedded secure element of the Samsung Galaxy S4.
Commonwealth Bank customers can now easily add contactless payment functionality to their Samsung Galaxy S4, allowing for contactless payments at the more than 1.6 million MasterCard PayPass contactless merchant locations around the globe. This includes major retailers, convenience stores, grocery stores, pharmacies and taxis – quick payment environments where speed and convenience matter most.
MasterCard and Samsung, in partnership with financial institutions and mobile network operators worldwide, plan to complete similar service rollouts over the next year, including launches in Turkey, Russia and the Ukraine in the first quarter of 2014.Access to the secure element allows Samsung and other OEMs, mobile network operators and financial institutions to partner with MasterCard to deliver next-generation payment solutions to consumers. This includes MasterCard contactless technology and MasterPass™, the digital platform from MasterCard that enables partners to offer consumers enhanced payment and shopping experiences that are as simple as a click, tap or touch – online, in-store or anywhere. “With today’s news, we are ensuring that MasterCard cardholders can ‘light up’ Samsung devices for payments as they become available in the market,” said Mung Ki Woo, Group Executive, Mobile & Industry Alliances, MasterCard. “Our focus is on helping consumers shop and pay in a way that best fits their needs, across all of their devices. By working closely with Samsung – the global leader in mobile device manufacturing – and other device and chip manufacturers, mobile network operators and merchants, MasterCard is maintaining a leadership role in defining the future of payments.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV