National Australia Bank Launches an Android Pay Mobile Payments Tool (Jan. 26, 2016)
National Australia Bank has launched a service that enables consumers with Visa-branded debit cards to make payments with Android-operated mobile devices. Consumers use the contactless payment service through their NAB mobile banking app, the bank says. The launch of the Android Pay service comes as Apple Pay fails to find a way into the country.
Last year, Australian banks gave the green light to Google’s Android Pay, which launched last year. Rival Apple Pay, however, remains on the sidelines as leading banks there have failed to reach an agreement with Apple about the fees Apple collects from partner banks.
National Australia Bank says it will boost security for its mobile payments by becoming the first bank in Australia to use the Visa Token Service in that country. Tokenization technology attaches a unique authentication password or number to online or mobile purchases, further protecting the transaction from criminals. The project stems from a 10-year strategic partnership the bank has signed with Visa to work on payments innovation, according to the bank.