CBA contactless payment ready to go
(16 October 2009 – Australia) From October onwards, MasterCard Paypass and Visa Paywave cardholders paying for goods less than A$100 will be able to make payments via Commonwealth Bank’s (CBA) contactless readers at selected stores.
Selected IGAs, Red Roosters and the Etihad Stadium in Melbourne have installed CBA’s contactless readers in an effort to provide customers and retailers more convenient payment options.
There are currently over three million CBA MasterCard Paypass cards in the market and the bank intends to work closely with merchants to increase the number of acceptance points.
Kelly Bayer Rosmarin, general manager, Business Products and Development, CBA, said that the bank plans to have more than 2,000 terminals by the end of the year and with a terminal base of more than 160,000, the bank has the potential for tens of thousands of acceptance points to be installed in the next 12 months.
Payment details are securely exchanged using short-range wireless technology between a point-of-sale device and the contactless card. Cardholders are protected from fraudulent transactions just as they are with any normal payment, making the contactless payment option a convenient alternative to cash.
In September, National Australia Bank installed over 500 contactless readers in Melbourne following successful trials with merchants.
There are currently over three million CBA MasterCard Paypass cards in the market and the bank intends to work closely with merchants to increase the number of acceptance points.
Kelly Bayer Rosmarin, general manager, Business Products and Development, CBA, said that the bank plans to have more than 2,000 terminals by the end of the year and with a terminal base of more than 160,000, the bank has the potential for tens of thousands of acceptance points to be installed in the next 12 months.
Payment details are securely exchanged using short-range wireless technology between a point-of-sale device and the contactless card. Cardholders are protected from fraudulent transactions just as they are with any normal payment, making the contactless payment option a convenient alternative to cash.
In September, National Australia Bank installed over 500 contactless readers in Melbourne following successful trials with merchants.
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