Samsung, Commonwealth Bank team up

CBA’s MasterCard customers will now have access to Samsung Pay, allowing them to load their credit and debit cards and make payments via compatible Samsung smartphone devices and wearables.

As Australians become increasingly concerned about data safety, Samsung Pay offers a range of security features to its users. The app creates a tokenised card number for the user, which means no sensitive payment card information is stored on the device, and also requires PIN, Iris or fingerprint authentication before making a payment.

Users also receive remote access to the Find My Mobile website to easily lock their mobile phone device and prevent access to Samsung Pay if their device is misplaced. Additionally, the Samsung Pay app is housed on Samsung’s security platform Knox.