Of Special Interest

28th October 2011

CommBank Kaching multi-payment mobile app

Commonwealth Bank of Australia has launched Kaching, a smartphone Ap combining NFC payments using MasterCard PayPass, P2P payments which includes the sending to anyone within the phone's contacts without re-inputting the information and social payments via Facebook friends.

“This banking breakthrough marks a significant milestone in the evolution of how we pay and receive money from each other. Commbank Kaching joins our suite of apps and further validates our position as Australia's most innovative Bank and a world leader when it comes to digital development in financial services," said Michael Harte, Group Executive Enterprise Services, and Chief Information Officer.

"Mobile and online social payment is the next step in transaction technology. Already, more than half our 10 million customers own a smartphone, and Australians are 65 per cent more likely than the British to bank on their phones. Now, for the first time, Australian consumers will no longer have to rely on cash or cards to make payments to family, friends or even businesses. The recent explosion in uptake of digital and smartphone technology has revolutionised how we all transact, interact and communicate with each other, and this new application will make the dream of mobile payments a reality," continued Mr Lindberg.

The ap is initially only available for iPhone with an operating system of iOS4.3 or 5.