ANZ Bank has released its long-awaited Mobile Pay tap-and-go payments app for Android phones following three years of development.
The bank first trialled tap-and-go payments in a limited capacity in 2012. The pilot used an Optus SIM secure element solution and near-field communications rather than the Android host-card emulation.
ANZ had originally scheduled an early 2015 release for the product.
In July last year however, the bank admitted development of its mobile wallet had hit a snag and more work was needed to "ensure the solution meets the needs of our [the bank's] customers."
The New Zealand arm of ANZ beat its Australian mothership to the punch in December last year, releasing the goMoney Wallet contactless payments service for a range of Android devices.
ANZ's Mobile Pay is separate from its goMoney application and is available for Visa payWave credit and debit cards as well as American Express contactless credit cards. MasterCard debit and credit cards are not supported.
Cards can be added to the mobile payments service by scanning them with the built-in camera on smartphones.
Three types of payments are supported: Wake to Pay, which does not require the phone to be unlocked; Launch to Pay, in which the Mobile Pay app must be launched; and Passcode to Pay, which requires the app to be launched and a passcode to be entered.
A PIN is required for transactions over $100. Customers can also use Mobile Pay to withdraw money at contactless-enabled ANZ ATMs.
The contactless payments solution does not come with banking features such as checking balances and transaction history. For such features customers will need to use the separate goMoney app.
ANZ would only say that Mobile Pay is "available for eligible Android phones at present" without specifying applicable devices. It has been contacted for clarification.
Last to arrive
ANZ's debut of Mobile Pay makes it the last entrant into the mobile wallet space.
Westpac and the Commonwealth Bank were the first of the big banks to market with digital wallets.
Westpac's wallet is specific to certain Samsung phones but can be used with American Express, MasterCard and Visa cards, while CBA's product can be used on any Android device but only with MasterCard and Amex cards.
NAB released its own mobile payments solution for Android phones in partnership with Visa in January.
Similarly, Google's Android Pay service was announced in Australia last December with five of Australia's biggest banks alongside a number of retailers on board. It supports MasterCard and Visa cards.
Apple's rival offering, Apple Pay, launched two months before Android Pay in Australia with American Express, but is yet to sign any of the country's banks due to an ongoing battle over interchange fees.