NFC Times Exclusive: Australia’s Commonwealth Bank has disclosed plans to put a MasterCard PayPass application onto an embedded secure element in selected Android NFC phones, the first major bank to disclose plans for launching commercial NFC payments on embedded chips since Google Wallet.
The bank is expected to launch the PayPass application first in the Samsung Galaxy S4, and the service would be part of a set of enhancements the bank announced late last week to its popular CommBank financial services app.
The bank said it would launch the enhancements during the remainder of this year and into 2014. If it launches the PayPass application before the end of the year, it would likely push MasterCard ahead of Visa in introducing contactless-mobile payments on embedded secure elements in Samsung phones.