The latest in payment technology is now available to BNZ customers with the bank launching Android Pay.
The contactless payment solution in partnership with Google started with BNZ today, allowing customers with an NFC-enabled android device to pay in store with a tap of their phone, similar to PayWave. To use the system, customers needed to have both the Android Pay app and BNZ Mobile Banking app on their phone, along with a BNZ Flexi Debit Visa card. The system would then allow users to pay without needing their wallet.
David Bullock, director of products and technology at BNZ, said with half of the New Zealand market using Android phones, the technology would be available to tens of thousands of BNZ customers straight away.
"We see clear benefits in bringing Android Pay to New Zealand for BNZ customers - for many, it'll be the first time they can shop without their wallet," Bullock said. "As the uptake of contactless payments increases there will be more places to pay with just a tap of your phone," he said. "It's about simplicity and convenience in payment options for your everyday banking."
The technology would allow BNZ to compete with ANZ's Apple Pay which was released last month. Although the technology is available to New Zealand customers, users may still need to have their wallet on them as just 25 per cent of terminals are currently contactless.
Bullock said the system would allow users to pay quickly and easily. The application doesn't need to be open to work and for purchases under $80 a PIN is not required.
"New Zealanders have a long standing affinity with electronic payments, as shown most recently by the swift uptake in contactless payments," Bullock said.
"BNZ Android Pay is just like tap and go payments with contactless cards, except you tap your phone on the EFTPOS terminal," he said. "At BNZ, we're pleased to have negotiated this technology first for our customers and look forward to [further] roll out of this in the New Year."
According to BNZ, the payment system was completely secure and Android Device Manager could be used to instantly lock the system from anywhere if the device was lost.
Android Pay was first unveiled in May 2015 and has been available in the US since September last year. New Zealand is the sixth country in the world to have the payment system.
Android Pay is currently available at retailers including The Warehouse, Noel Leeming, New World, PAK'nSAVE, Countdown, Animates, Paper Plus, Rebel Sport, Kathmandu, Farmers and JB Hi-Fi.