Bendigo Bank unveils QR code-based mobile payments service

Bendigo Bank unveils QR code-based mobile payments service

Australia's Bendigo Bank has teamed up with Samsung to launch a QR code-based instore mobile payments system that gives customers 'cred' that can be donated to charity every time they make a purchase.

Available to any Australian with a compatible smartphone, the redy Android and iOS app can be linked to a Bendigo Bank account or any Visa or MasterCard card. Then, shoppers pay by using their handset to scan a QR code displayed on a Samsung tablet at participating merchants.

The bank says that retailers in Melbourne, Adelaide, Bendigo, Tasmania and Victoria have all signed up, with many more in place to join over the next few months as a national redy network is built up. Merchants pay $25 a month for the Samsung tablet as well as a 1.25% cut of transactions.

When shoppers pay using the app they also earn 'creds' that can either be used to make savings on future purchases or donated to charities. Customers gets 0.5% of each transaction back in the form of creds, with each cred worth one dollar.

The bank is also promising to add new features to the redy platform in the near future, including person-to-person payments and greater analytic capabilities for merchants.

Comments: (1)

A Finextra member
A Finextra member 13 June, 2014, 05:54Be the first to give this comment the thumbs up 0 likes

I have downloaded the app and I cannot wait to use it.