Correct.
2 tap solution.
It occurs to me that my nearest Woolies still requires the person working the checkout to do the scan (no idea why they havent updated) so I shan’t be bothering with this just yet. I use flybuys with my watch, and apple pay with my watch… and most times I go to Coles. I enjoy the benefits of Woolies rewards just for my mobile service.
A “new” bank, RACQ?? never heard of it, but an advert just on tv for them saying supports all pays.
Website says apple pay/wallet.
https://www.racq.com.au/banking/banking-with-us/banking-the-way-you-like-it/digital-wallets
I haven’t looked into it any detail, not many branches though.
I can confirm that WOW Staff discount cards also work in the Apple Wallet Woolworths Rewards integration
Although with a horribly pixelated banner image? I don’t understand but it works as expected. Tap for Rewards then keep phone there for Apple Pay.
Looking forward to explaining this to customers who don’t know what Apple Pay/Wallet is 
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I could kinda tell this was coming over the last few months as Apple Pay itself was suddenly and heavily advertised all around the store, including stickers on our checkout POS assemblies and via the store radio/PA.
I hope this encourages other merchants/whatever to integrate with Wallet. It’s been 5 damn years…
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eftpos support was announced today, At this stage it appears to be only available on ANZ access cards but I’m sure other banking institutions that already support Apple Pay will be some of the 1st to add this feature to their existing eftpos cards.
https://www.eftposaustralia.com.au/products/eftpos-digital-mobile/applepay/
And who knows we might even see some new banking institutions.
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Colour me old… but how is this different to a debit card? Seems like both access funds directly from a bank account? Its a genuine question, I really dont know.
Apparently it’s aimed at Concession and Healthcare Card holders? No fees, etc.
I have no idea on the technical differences, however.
At a guess, I’d say it’s a difference between the ‘middle-person’ - a transaction on a debit card gets processed by the relevant credit card provider eg Visa/MasterCard whereas a transaction on an eftpos only card is handled by the eftpos organisation, and probably with lower fees charged against the bank for doing so.
Correct they pretty much access funds from a bank account.
You can have one of these cards on pretty much all their bank accounts. And certain Concession and Healthcare Card holders with special accounts can also opt to get a debit card on but it depends on the account.
Banks don’t normally have card fees. However a merchant may choose to charge a surcharge on a transaction done on a debit card but not on an eftpos card.
Merchants normally get charged different rates per card type eftpos cards normally have a very tiny fee or none at all. And merchants don’t normally have a surcharge.
Correct not to mention,
That bank would have to share a part of the interchange fee with that organisation and the merchant would have to pay a higher processing fee.
Correct they normally charge a lower fee and take a smaller portion of the interchange fee. Not to mention most of the big banks own a portion of eftpos each.
So, based on the info here, it exists for the benefit of the bank, not necessarily the customer. At the customer end, theres no apparent difference.
The addition of eftpos cards to Apple Pay means it’s now available to basically any ANZ card holder(I’m sure there’s exceptions, don’t @ me), and I’d expect to see this spread to other institutions sooner rather than later. It’s a good move for everyone.
Certainly seems like it. I was very surprised that eftpos only cards even exist now. I thought they would have gone the way of the dodo.
Why? I Personally having the ability to use Apple Pay with my current EFTPOS card would be appealing to me and would be the only way I would consider using Apple Pay.
I have no desire at all to make my Credit Card easier to use as that only encourages spending in a way that makes the already greedy banks more money.
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Apart from funds clearing immediately, if you use a eftpos card, I’m not aware of anything that stands out.
Yeah pretty much all there customers would now have access to a card that is Apple Pay capable. However you do need to have one of the new chip and contactless eftpos cards from them.
Then maybe others but I’m only aware of one account that doesn’t have a card attached and that’s one of their savings account.
At this stage there’s only five banks that are using the new chip and contactless eftpos cards that I’m aware of.
ANZ Was First, followed by NAB and then followed by RAMS I believe and then Commonwealth Bank there’s only three of the big banks and two smaller banks/credit unions I can’t remember who the fifth one is.
They’d have to switch to these cards first before they could support Apple Pay however there is nothing stopping them doing that in one sweep I guess.
They have with some of the smaller institutions and credit unions. I wouldn’t think there’s many banking institutions that support Apple Pay that actually still issue or have on offer eftpos cards.
Most of them are debit credit cards with most debit cards in the last few years have been issued as multi-scheme with support for chip and contactless eftpos. Check the back of your card for the eftpos and contactless logos which should be next to each other.
However I should add while this has been added to debit cards I’m not aware of any institution using those features yet from what I understand it’s already to go however it’s just waiting to be turned on.
Well… good for you. I use a debit card, which to my mind is no more or less useful than an eftpos card. But, ya know… whatever floats yer boat. BTW I was NOT saying theres anything wrong with eftpos cards… Just in case thats what you were thinking there.
This is why I was asking what the difference is. I used my Visa Debit card on my previous bank (building society) as if it were an eftpos card. As far as I was concerned, I was using my own money, it wasnt credit, and I never treated it as such. Likewise now with Macquarie master card, its a debit card, and I’m only using my own money. I withdraw at point of sale if I want to (usually I dont, though) and can withdraw cash at autotellers if I want to, and I use it to pay for stuff at stores of various kinds. So I guess I am thinking the main difference is in fees.
[edit] immediately cleared funds… yes that could be a difference if thats what happens. Mastercard and Visa still go through that pending process. Macquarie is pretty quick though, certainly in terms of notifying spends. I’ve been really chuffed to get notified right away when a spend is done. Makes it easy to see if someone else is at your stuff. Mind you Commbank is quick about notifying spends which dont look like you. I think security wise they have all improved out of sight over the past few years.
Fair call, I’ve never considered Debit Cards as an option as I’m not sure how they would fit in to the way I currently bank - but I guess if I got one as a “spending money” card and used it that way with Apple Pay it might get me more interested in the idea. I’m just not sure if ANZ here is NZ offer the facility to use them with Apple Pay.
** Edit - Looks like they are available, maybe I’ll give it a go at some stage - but it will mean I have to open an ANZ bank account. Until I actually looked at how the VISA Debit card works I misunderstood and I stand extremely corrected on how it works I didn’t realise it was actually more or less a standard EFTPOS type card - I thought you had to put money on it to spend!
/me hangs his head in shame…
Correct I discussed that above.
That’s definitely how it works.
Correct.
I love the new update to the Macquarie app, they recently added more fine tuned Notification options.
A Debit card is similar to a EFTPOS Card, While it uses Visa or MasterCard unlike a credit card you can’t spend money you don’t have in your account.
In New Zealand there is currently only one provider that offers Apple Pay and that ANZ and it’s only on debit and credit cards will be no EFTPOS support.
There should be a second one by the end of the year BNZ have announced and the New Zealand press has said by the end of the month however they haven’t given any fixed date other than by the end of the year.
BNZ’s Apple Pay page on their website.
Remember, While New Zealand and Australia share the name eftpos. They are completely different Unfortunately I’m not aware of New Zealand’s version of EFTPOS having any digital wallet strategy announced. eftpos Australia have had a digital wallet strategy planned for quite awhile now.
And I wouldn’t be expecting anything coming soon New Zealand’s version of EFTPOS.
Yes sounds like you definitely were confused. It works pretty much like a New Zealand EFTPOS Card except it access is your funds over the Visa or MasterCard network and you only normally have access to the funds in your bank account the one the cards attached to.
The way you were thinking at work is more like a prepaid credit card or debit card. Which also exist.
Thanks for the clarification and understanding of my misunderstanding!
We don’t currently bank with ANZ or BNZ but the next time our mortgage comes up for renewal perhaps I may look at moving banks… depending on fees, interest rates, the phase of the moon and my feelings at the time 