Ask Apple Pay (Apple to pay) and the Australian bank`s struggle may come to an end.
Westpac recently officially announced the Samsung Pay (Samsung payment) cooperation. Starting at 8 a.m. on Tuesday, Samsung Galaxy users will be able to load their credit and debit cards in a non-touch manner.
Once a bank card is loaded on a Samsung phone, even if the phone is dormant, the user can open an electronic wallet by sliding his finger from the bottom of the screen to the top of the screen, and payment confirmation can use fingerprints. Or the iris recognition function of the new phone.
Australia`s four largest banks, Westpac, was the first to announce a payment partnership with Samsung.
The vice president of Australia`s Samsung mobile division said they were in talks with three other big banks to try to open Samsung payments this year.
Samsung, which currently works with more than 870 banks around the world, has handled more than 2.4 transactions in the past 18 months. It was launched in Australia in June last year, when only Citi and American Express credit card holders were able to use the feature.
The Apple user asked! what happened to Apple Pay? How could Apple lose to Samsung?
Apple, as a rival to Samsung, is stable. Samsung does not require banks to pay any fees to pay for the payment, and also allows banks to access the phone`s NFC features, but Apple not only does not open up the NFC feature, it also charges a fee.
Apple only allows its digital wallet to connect to iPhone`s near-field communications (NFC) chip, which is linked to payment terminals. The technology hinders retailers and banks from developing contactless payment digital wallets directly and limits the ability of loyal users to hold bank cards.
Earlier, on March 31, the (ACCC), Australia`s Fair Competition and Consumer Council, urgently suspended negotiations between several Australian banks and Apple. It was reported that at that time, Western Pacific Bank, Federal Bank of Australia, National Bank of Australia, Bendigo Bank and Adelaide Bank are planning to join forces to negotiate with Apple in the hope of accessing Apple`s NFC functionality.
"We respect the decision of ACCC and the partnership with Apple will remain open," said George Frazis, head of consumer banking at Westpac. Banks are also reconsidering the best services they can offer to customers. "
