Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Heritage Bank enters mobile payments market

Heritage Bank has announced plans to launch a new mobile app in a move it says is the first of its kind by a non-major bank.

Advertisement
Advertisement
>The bank's MobilePay app will see customers authorise transactions from their linked Visa credit or debit account simply by tapping their compatible smartphone at a Visa Paywave terminal.

The move makes the mutual the first bank in Australia, outside the big four, to develop and launch its own mobile payments solution in-house.

Heritage CEO John Minz said the MobilePay system offers a number of security and simplicity advantages.

“Our MobilePay system is great news for customers as it provides a quick, simple and secure way for them to use their mobile phone to authorise payments,” he said.

“Our solution works by creating a ‘virtual’ copy of your Visa debit or credit card on your phone, with a completely different number. You can then tap your phone at Visa Paywave terminals to make transactions from your linked account.

“Receiving a completely separate number means you keep your existing credit or debit card secure, and you don’t need to type in any personal information like card numbers, card verification numbers or a PIN.”

MobilePay is available for users with an Android 4.4 with Kit Kat software and above, NFC functionality, and a Visa credit or debit account with Heritage.

The tap and go feature works for transactions up to $100, with transactions above that amount requiring users to enter a PIN.

Heritage Bank enters mobile payments market
mortgagebusiness

Latest News

The federal government has committed an additional $130 billion in support to protect jobs threatened by the economic fallout from the cor...

New government-led interventions in the housing market in response to the coronavirus outbreak are set to further hinder transaction activit...

The number of owners withdrawing their property from auction soared to 40 per cent last week, following the introduction of a ban on auction...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.