Android devices with the KitKat operating system or later can use Android Pay through the Near Field Communication chip in the phone or tablet to make purchases.
On the security front, Android Pay uses tokenisation security to generate a unique number for each purchase so customer card details are never actually shared with the retailer directly.
Asked whether the company is late to establish a marketplace for the technology, ANZ's Elliott used a cricket analogy.
"From our perspective, we won the toss and we like to be first. We like to be a leader - it's a long game and long way to go; this is only the beginning, but we want to be engaged and part of that right from the start - and put our energies on being first."
Source: CIO Australia
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