National Australia Bank will launch a new mobile banking app later this year that will allow customers to instantly use newly approved personal Visa credit cards without having to wait for their physical card.NAB states that this will be delivered via “an innovative digital contract feature in the new app not seen anywhere else in the world”.
“This means customers will be able to instantly use their new credit card through NAB Pay for contactless transactions less than $100, without having to wait for their physical card to arrive in the mail,” NAB states.
NAB executive general manager of consumer lending Angus Gilfillan described it as “a whole new platform for a new era of NAB mobile banking”.
“Our new app will be fast and seamless, and has been designed to make banking as convenient and easy as possible for our customers,” he stated.
“We want to give our customers more control over their everyday banking, and our new app will help them to do this with the tap of a button.”
Via a strategic partnership with Visa, NAB states that it was able to enhance the card transaction control features in the new app, enabling customers to select and modify when and how their Visa debit and credit cards can be used.
“Customers will be able to control what type of payments can be made through the app; for example, if you’ve provided a secondary card to a family member, you can choose ‘Don’t Allow’ for online purchases on that card,” Gilfillan commented.
NAB states that an open pilot of the app will commence soon for compatible Android devices, with customers with iOS devices to also be piloting the app over coming weeks.
During the pilot, and after launch of the app in full later this year, features will be released in stages, NAB states.
NAB this week will also launch its new NAB PayTag sticker, which can be attached to mobile devices, enabling contactless payments linked to a customer’s Visa debit card.
