ANZ is the first Australian bank with Apple Pay

From today, any ANZ customer with a Visa debit or credit card or ANZ branded American Express credit card will be able make payments with their iPhone using Apple Pay.

ANZ has become the first Australian bank to support the service, joining only American Express as the supported card issuers, despite Apple Pay now being live in Australia for five months.

Apple Pay is supported on Apple’s iPhone 6, 6 Plus, 6s, 6s Plus, the just released SE, and the Apple Watch. Any payment terminal that supports tap and pay will support Apple Pay from your phone or watch.

ANZ CEO Shayne Elliott said: “The introduction of Apple Pay is a significant milestone in our strategy to use digital technology to provide our customers with a superior experience and will be a watershed moment in the adoption of mobile payments in Australia.”

The bank says that more than 60% of all card transactions in Australia are now contactless and accepted by 70% of all payment terminals across the country.

Apple Pay also works through online payments made on your phone, using the Touch ID fingerprint reader as security to access your card.

Up until now Australian banks had been stuck in a stalemate with Apple, which wants 15 cents for every $100 worth of transactions.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.