Commonwealth Bank of Australia Monday launched its “Commbank Kaching” mobile-payment and banking app for iPhone customers, including making an NFC-enabled iPhone attachment available.
It’s the first Australian bank to move beyond the trial stage with mobile-contactless payment, tapping into a growing contactless infrastructure in the country, including a penetration rate for contactless point-of-sale terminals that could reach 10% next year, according to a local payments consultant.
Besides contactless payments, the bank’s new app enables customers to make peer-to-peer payments using their mobile phone numbers or e-mail addresses and also sending money to their Facebook friends. Users can do mobile banking, as well, including transferring funds among their accounts at the bank.