MONTREAL, May 31, 2017 /CNW Telbec/ - Holders of National Bank Mastercard credit cards are now able to use Android Pay, Google's new digital wallet in Canada.
This solution allows National Bank clients with an Android smartphone to pay for purchases of $100 or less without having to take out their card. In an upcoming phase, clients will also be able to use their debit card with Android Pay.
Paying with Android Pay is easy. After downloading the app, users add the National Bank Mastercard credit card of their choice, then simply place their smartphone near a merchant's contactless payment terminal to make a purchase.
Clients with a credit card rewards program will continue to earn points when they use Android Pay. For users planning a trip abroad, Android Pay is already accepted by millions of merchants around the world. It can also be used for in-app payments in certain apps.
"The mobile payments industry is growing rapidly, and a significant portion of the Bank's clients use Android smartphones. We're pleased to offer them a convenient and secure solution that lets them pay with their phone," said Lionel Pimpin, Senior Vice-President – Digital Channels at National Bank.
Android Pay transactions are protected using a system called tokenization. For each transaction, a virtual account number is transmitted to authorize the payment, so the user's sensitive information is not shared with the merchant. And if their phone is ever lost or stolen, they can simply use Google's "Find My Device" service to instantly lock the device from anywhere, secure it with a new password, or even wipe it clean of personal information.
In addition to offering Android Pay, National Bank has already entered into an agreement with Mastercard for the Masterpass digital wallet, which makes it easy to carry out secure transactions online. The Bank is also examining other existing and upcoming mobile payment solutions and is in the process of updating its transaction systems to ensure their compatibility.
About National Bank of Canada
With $239 billion in assets as at April 30, 2017, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has more than 21,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
For further information: (The telephone number provided below is for the exclusive use of journalists and other media representatives.) Jean-François Cadieux, Senior Manager - Public Affairs, National Bank, Tel.: 514-394-6500