A digital wallet allows you to store your credit or debit card details securely on your phone, meaning you can make payments quickly and easily without having to take out your wallet.
Given that Apple’s various iPhone models are by far the most popular devices in the country – the American company had just under 45% market share at the end of 2017 – there is one digital wallet service that Aussies are very excited about: Apple Pay.
First released down under in 2016 and now available on all Apple devices, Apple Pay had a relatively rocky start with the Australian Competition and Consumer Commission (ACCC) rejecting a bid by a number of banks to bargain with Apple over Apple Pay. Despite these beginnings, Apple’s payment service is now supported by a huge range of financial institutions. So which banks currently support Apple Pay, and how does the whole system work?
The table below displays a snapshot of rewards credit cards on Canstar’s database with links to providers’ websites. Before deciding on any credit card product, check upfront with your provider and read the PDS to confirm whether the card supports Apply Pay and meets your needs. The products displayed are based on a monthly spend of $2,000 and are sorted by Star Rating (highest to lowest) then by provider name (alphabetically).
How does Apple Pay work?
Apple Pay is a type of digital wallet, similar to services such as Android Pay, PayPal or Visa Checkout. A digital wallet can store your bank account and card information securely, allowing you to simply use your ‘wallet’ to make payments without needing to use the card itself.
Apple Pay lets you use your phone’s Near-Field Communication (NFC) chip to connect to an EFTPOS machine and make the transaction – all in a matter of seconds. You don’t even need to enter your pin unless the transaction exceeds $100.
You can also use a digital wallet like Apple Pay to make purchases online. Rather than entering your credit card details every time, you can simply log into your Apple Pay account and buy things with a single password. Services such as PayPal have made this possible for years, but Apple Pay’s creation of a unified platform across multiple devices is a big selling point for iPhone and Mac users.
How do Apple Pay and Android Pay differ?
Apple Pay and Android Pay are very similar – both are digital wallet services built into your phone’s operating system and both store your card details securely on your phone, with no storage of information online.
The main difference between the two is the breadth of support – Android Pay is currently supported by more major banks in Australia and Australians own more Android devices than iPhones running iOS, a disparity which is increasing.
Apple Pay is somewhat more secure than Android Pay however: iOS users must scan their fingerprint before completing each payment, whereas an Android phone need only be unlocked before being held next to an NFC terminal.
Does ANZ offer Apple Pay?
Yes it does! ANZ announced its partnership with Apple Pay in April 2016. The bank allows you to store your MasterCard and Visa credit cards as well as Visa debit cards on the native iPhone platform. You can either add your card directly to the Apple Pay app – using your camera or by manually entering details – or you can link it from your ANZ GoMoney app after logging into your ANZ account.
Does CommBank offer Apple Pay?
Unfortunately no, Commonwealth Bank doesn’t support Apple Pay as of September 2018. Australia’s largest bank does, however, offer the CommBank PayTag for $2.99. You can purchase the tag through the CommBank app, stick it on the back of your phone and begin making contactless payments.
Does Westpac offer Apple Pay?
No, Westpac does not yet support Apple Pay at the time of writing. You can still access your Westpac banking products through the Westpac Live app and Westpac even offers support for your Apple Watch, allowing you to check balances, find ATMs and more. The Westpac Live app does not yet have a digital wallet feature, but the bank has partnered with Android Pay. The bank also offers Westpac PayWear, a battery-free wearable that uses the same contactless technology as your Debit Mastercard to let you pay on the go.
Does NAB offer Apple Pay?
No, NAB does not support Apple Pay, but there is an alternative method on offer for Apple users. iPhone owners can order a NAB PayTag for $3.99, which sticks onto the back of your phone and allows you to make contactless payments by linking with your Visa debit card. For those on Android, the bank does offer their NAB Pay digital wallet service through the NAB Mobile Banking app.
What other banks support Apple Pay?
There are dozens of banks and credit unions besides the big four that support Apple Pay. The full list of supported banks at the time of writing is as follows:
- American Express
- ANZ (Mastercard credit cards, Visa credit and debit cards)
- Australian Unity
- Bank Australia
- Bank of Sydney
- Bendigo Bank
- Beyond Bank Australia
- Big Sky Building Society Ltd.
- Border Bank
- CAPE Credit Union Ltd.
- Catalyst Money
- Central Coast Credit Union
- Central Murray Credit Union Ltd.
- Central West Credit Union Ltd.
- Citi Australia
- Community Alliance Credit Union Ltd.
- Community First Credit Union Ltd.
- Credit Union SA Ltd.
- Defence Bank
- Endeavour Mutual Bank
- Firefighters Mutual Bank
- First Option Credit Union
- Ford Credit Union
- Goldfields Money Ltd.
- Goulburn Murray Credit Union
- Holiday Coast Credit Union Ltd.
- Horizon Credit Union
- Intech Credit Union Ltd.
- Laboratories Credit Union Ltd.
- Latitude Financial Services
- Lombard Finance
- MyState Bank Ltd.
- Nexus Mutual
- Northern Beaches Credit Union
- Northern Inland Credit Union
- Once Credit
- P&N Bank
- People’s Choice Credit Union
- Police Bank
- Police Credit Union Ltd.
- South West Slopes Credit Union
- Sydney Credit Union Ltd.
- Teachers Mutual Bank
- The Mac
- The Rock Credit Union
- Unity Bank Ltd.
- Warwick Credit Union Ltd.
- WAW Credit Union
- Woolworths Employees’ Credit Union
To find out more about the banks and credit unions which support Apple Pay, check out Canstar’s ratings for online banking services.