ANZ bank adds Garmin Pay to its payment repertoire

Now boasting six different payment wallets, ANZ bank has added Garmin Pay to the mix.

The Australia and New Zealand Banking Group (ANZ) has added yet another payment option to its mix of wallets, announcing its customers can now use Garmin Pay after signing a partnership with the global wearables brand.

To pay via the swish of a wrist, customers will first need a Garmin account and one of its vívoactive 3 devices to pair with their Apple or Android smartphone. They will then need to load their eligible Visa debit or credit cards through the Garmin app.

"At ANZ, we are determined to bring our customers new payment experiences so they can pay the way they want to," ANZ MD of Products Bob Belan said.

"The wearables market continues to grow, with more than 26 million devices shipped worldwide in the third quarter of 2017 alone, so we know our customers will appreciate the ability to pay on their Garmin device."

ANZ offers Apple Pay, Fitbit Pay, Android Pay, and Samsung Pay, making it the only bank in Australia to offer five third-party wallet solutions, in addition to its own ANZ Mobile Pay platform.

The bank also partnered with Eftpos in October to allow customers with an ANZ-issued Access card to use the iPhone maker's wallet to make in-store Eftpos mobile payments, and again in November with Eftpos when it launched payments via Android Pay.

"ANZ has been at the forefront of mobile payment services for some time now," Belan said previously.

Fintech analyst Juniper Research estimates that the number of users of Apple Pay, Samsung Pay, and Android Pay will hit 150 million by the end of this year.

Apple Pay is predicted to reach 86 million users by the end of 2017, while Samsung Pay is forecast by Juniper to reach 34 million, and Android Pay 24 million.

Although Apple Pay has been flagged as the most popular wallet, its rollout in Australia has been stifled, with ANZ the only member of the big four banks to adopt the iPhone maker's wallet, with the others showing no interest after losing their appeal to collectively bargain with third-party mobile providers such as Apple on conditions relating to competition, best practice standards, and efficiency.

Meanwhile, Westpac, the Commonwealth Bank of Australia, and the National Australia Bank announced in October a new joint venture named Beem that is charged with developing a mobile wallet for iOS and Android users.

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