The National Australia Bank (NAB) has announced that it will suspend the NAB Pay service from June 27th. This shows that there is a lack of customer support for this decision.
“We have decided to terminate this service based on the reduced use of our customers and the use of other payment services supported by NAB,” the company said.
NAB Pay was introduced by banks in 2016 to allow customers with Visa debit or credit accounts to use the NAB mobile banking app to make contactless payments for purchases under A $ 100. NAB Pay was only available to Android users and was also the first instance of Visa tokenization in Australia.
The red and black banks have ensured that customers who have added their NAB account details to other payment services compatible with their device (such as Google Pay and Samsung Pay) will continue to function normally.
“The rest of the account services, such as card-on-file payments and direct debit, remain the same,” the bank said.
NAB began offering Apple Pay in 2019, ending the three-year boycott of iPhone makers. In 2016, NAB joined forces with other major Australian banks to pursue control of Apple and iPhone’s Near Field Communication (NFC) technology.
The group claimed that access would enable iPhone customers to offer their own integrated digital wallet that competes with Apple’s digital wallet Apple Pay. This is what Apple wanted to avoid. The bank lost the battle in March 2017 and the Australian Competition & Consumer Commission (ACCC) has decided to decline approval.
For customers who chose not to use an alternative mobile wallet payment system, the bank advised them to purchase using a physical credit or debit card.