Powered by MOMENTUM MEDIA
subscribe to our newsletter
Heritage Bank enters mobile payments market

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

A global investment bank has announced its plans to expand its commercial offering to multinational Australian businesses after identifying ...

Moody’s has backed the Reserve Bank’s monetary policy adjustment, adding that it expects the monetary policy boost to help revive the f...

Demand for home rebuilds in Sydney has remained stagnant over the last 12 months, despite the other challenges that have plagued the housing...

FROM THE WEB
podcast

LATEST PODCAST: Movers and shakers

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

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