15 June 2017

Teachers Mutual Bank Limited today announced it will be offering Samsung Pay to members of its Teachers Mutual Bank, UniBank, and Firefighters Mutual Bank brands. 

Samsung Pay is a secure and easy-to-use mobile payments service available on compatible Samsung devices including the Gear S3 smartwatch and the Galaxy S8 and S8+ smartphones¹. 

The implementation of Samsung Pay for Teachers Mutual Bank Limited members is an innovation that will drive better customer outcomes through increased accessibility to funds for all members.

‘Teachers Mutual Bank Limited continues to embrace technologies that have the capacity to make life easier for our members. Samsung Pay is a great addition to our current payment platforms, and ensures that our members have the versatility of paying with their Samsung devices whenever and wherever is convenient’, said Teachers Mutual Bank Limited Deputy CEO, Brad Hedgman. 

‘We are at the forefront of our industry, embracing innovative technologies like Samsung Pay that add value for our members’, said Brad Hedgman.

Samsung Pay has been designed to be a complete wallet replacement for users—making everyday payments and loyalty point collections simple and secure for Australians.

Mobile payments are made even simpler with Samsung Pay because the technology utilises Near Field Communication (NFC) and Magnetic Secure Transmission (MST). MST technology enables Samsung Pay to support partners that use a traditional magnetic stripe, commonly found on loyalty cards, gift cards and transportation cards, both in Australia and across the globe. 

The announcement comes as Samsung Pay marks its first anniversary in Australia. Samsung Pay has more than 870 bank partnerships worldwide and has had more than 240 million transactions processed over the past year and a half.  

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