CBA in contactless payments push - report

CBA in contactless payments push - report

Following a successful pilot, Commonwealth Bank of Australia (CBA) is set to install 5000 contactless payments readers across the country this year, according to the Australian newspaper.

CBA initially outlined plans to trial the technology in 2006, providing 35,000 customers in New South Wales with cards featuring MasterCard's PayPass technology.

The pilot enabled participants to make payments of up to A$35 by tapping their cards against 200 specially equipped terminals at cafes and restaurants, including McDonald's.

According to the Australian, CBA is now looking to install thousands of terminals, which will work with credits cards issued by any local or international bank with the MasterCard or Visa contactless technology. Stakeholders are also looking at raising the transaction limit to A$100.

CBA has also been conducting a contactless mobile phone payments pilot. Launched in November 2007, the trial saw the bank team with MasterCard and Silicon Valley-based NFC outfit Vivotech to allow participants to make payments by tapping their handsets against contactless readers.

Earlier this year National Australia Bank said it was looking at a commercial launch of contactless m-payments after a three-month trial at Melbourne's Docklands "exceeded expectations" and indicated a strong consumer appetite for the technology.

Commonwealth installs contactless payments readers - The Australian

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