NAB Pay signs up 18,000 users since launch

More than 18,000 Australians have downloaded National Australia Bank’s NAB Pay host card emulation (HCE) based mobile payment service since it launched in January 2016, with more than 60,000 transactions registered to date.

NAB Pay 29% of NAB Pay transactions take place in supermarkets, followed by 18% in fast food chains, 13% in restaurants, 10% in service stations, 7% in retail locations and 23% in “other” areas. NAB Pay transactions spike at lunchtime and between 6pm and 7pm when most spending is done at the supermarket.

“Customers love how simple and easy the service is to use, which is why we’re seeing more people using NAB Pay at the register,” says NAB’s Angus Gilfillan.

“As expected, transactions have mostly been below the A$100 mark, with customers using NAB Pay for coffee, lunches, general grocery shopping and petrol. Notably, we’ve also seen customers use NAB Pay for larger transactions at electronic retailers, where they purchased the likes of televisions and white goods for their homes.”

“Australians have been fast adopters of contactless payments, with more than 70% of transactions now done in this way,” Gilfillan added. “If NAB Pay is anything to go by, it won’t be long before mobile payments become the common payment method for our customers.”

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