The Commonwealth Bank of Australia (CBA) is poised to be the first bank in Australia to offer NFC payments with the release of its new app.
The new app will merge CBA's current CommBank and Kaching apps into a new CommBank app, allowing customers to pay for things up to $100 using their smartphone device at retailers that support tap-and-go payments.
The app tie-in
The new CommBank app will allow you to turn enable or disable NFC payments, as well as switch the account it is tied to.
For anyone worried, CBA says that security remains a top priority for the bank. In any case, all CommBank transactions will be backed by its 100% money back guarantee.
"As the only Australian bank with an NFC payment solution for both iPhone and Android devices, this will transform the way our customers make everyday payments," said Sullivan.
Sullivan also explained to TechRadar that while the new app will be free, for customers to access the NFC payment option, whether with NFC touting handsets or with the PayTag, it will cost a one-off fee of $2.99.
Other new features of the app includes new swipe gestures that moves between 3 "pages", the first being a login screen to access payment options throughout the app, the second shows a quick view of the balance in a nominated default account, and the third shows ATM and branch locations.
The app will also give you the ability to pay bills via QR codes, quick fund transfers between accounts, activate a card or change a card's PIN number within the app, and Kaching payment options, which allows you to pay people via email, Facebook or a phone number.
The app will be available to iOS, Android and Windows Phone 8 users, but Windows Phone 8 users will miss out on the payment options.
- Don't know what NFC is? Here's a little guide to what NFC is and why it is in your phone.