CBA goes contactless after pilot
(8 May 2009 – Australia) CBA will install 5000 contactless payment readers across Australia by the end of 2009, after a successful trial.
As reported in the Australian newspaper, CBA recently completed an 18 month trial involving 200 contactless readers distributed across a range of cafes and restaurants.
The contactless card technology allows customers to purchase goods up to a limited value simply by waving their credit cards in front of the readers.
The new implementation by CBA will allow this convenience for any customer who has a VISA or MasterCard with contactless payment technology, at the 5000 locations.
With trials having a purchase amount of around $35, the new technology provides banks with a new application for credit cards; low cost transactions. Using the technology at cafes, for example, gives customers the opportunity to use credit cards for purchases like coffee, which they would not usually use a credit card for.
Commonwealth will reportedly start to distribute readers in June.
According to CBA’s merchant solutions general manager, Dominic White, stakeholders were working to increase the purchase limit to $100, up from the trial limit of $35.
The service would be accessible by credits cards issued by any local or international bank with the MasterCard or Visa contactless technology, White said.
White said that trials have been done with McDonald's and some other merchants, which have enabled the bank to fine tune the technology for wide scale rollout.
He added that the key thing about contactless technology is speed and convenience. CBA feels that it is now at the level where it's delivering a good value proposition for customers, White concluded.
The contactless card technology allows customers to purchase goods up to a limited value simply by waving their credit cards in front of the readers.
The new implementation by CBA will allow this convenience for any customer who has a VISA or MasterCard with contactless payment technology, at the 5000 locations.
With trials having a purchase amount of around $35, the new technology provides banks with a new application for credit cards; low cost transactions. Using the technology at cafes, for example, gives customers the opportunity to use credit cards for purchases like coffee, which they would not usually use a credit card for.
Commonwealth will reportedly start to distribute readers in June.
According to CBA’s merchant solutions general manager, Dominic White, stakeholders were working to increase the purchase limit to $100, up from the trial limit of $35.
The service would be accessible by credits cards issued by any local or international bank with the MasterCard or Visa contactless technology, White said.
White said that trials have been done with McDonald's and some other merchants, which have enabled the bank to fine tune the technology for wide scale rollout.
He added that the key thing about contactless technology is speed and convenience. CBA feels that it is now at the level where it's delivering a good value proposition for customers, White concluded.
Subscribe