Westpac New Zealand customers can now use Apple Pay wherever contactless payments are accepted.
This reflects the findings of a recent study by Allied Market Research, which found that younger consumers appreciate the simplicity of mobile payments.
The mobile payment market is expected to reach $4.5 trillion by 2023, according to the research firm, which also notes the market is growing with a “lightning-fast” rate in Asia-Pacific.
However, even mobile payments are beginning to be superseded.
The report noted that near field communication (NFC) and QR technology is fast becoming standard in various parts of Asia-Pacific, and various market players are already investing in this new technology.
Westpac is celebrating the launch of Apple Pay by donating $2.50 for every customer who uses Apple Pay five times before May 2, 2019, to charity. Each customer will also receive a one-off payment of $10.
“It is yet another reason for our customers to get excited about Apple Pay,” Shane Howell, Westpac’s chief experience officer, said.
The four charities that will benefit from the initiative are the Mental Health Foundation, Shine, Sustainable Coastlines, and New Zealand’s rescue helicopter services.