ANZ New Zealand has decided to replace its current Android mobile wallet goMoney with Google Pay in a bid to streamline contactless payments.

The decision to launch Google Pay comes two years after the bank released Apple Pay for iOS customers.

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Google Pay will allow all the customers of the bank who use Android phone to make payments for their purchases online or at stores through the app.

ANZ head of digital and transformation Liz Maguire said: “Google Pay is a great addition to our mobile payment options.

“ANZ customers can pay with Google Pay everywhere contactless payments are accepted both in New Zealand and around the world.”

The introduction of Google Pay to expected to facilitate faster contactless payments from all devices which run on Android Lollipop 5.0 or higher versions.

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The customers can complete the payment by holding their device over a payment terminal. Once completed, they will receive the receipt notification on their phone.

Additionally, ANZ New Zealand will phase out its 2015-launched goMoney Wallet from the next month. Accordingly, all goMoney Wallet customers will not be able to use their digital cards at smart ATMs.

However, the bank is expected to reintroduce this functionality in near future.