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Commonwealth Bank to trial contactless payments at Royal Easter Show

24 March 2010  |  2287 views  |  0 Source: Commonwealth Bank

Paying for Showbags, food and drink, shopping and carnival coupons at this year's Royal Easter Show will be a lot quicker thanks to Commonwealth Bank and its contactless payment solution which will be adopted by merchants at this year's Show.

MasterCard PayPass credit and debit cardholders paying for items less than $100 need only tap their card on a Commonwealth Bank merchant reader to securely transact in seconds - with no PIN or signature required.

The Show will be the one of first times contactless payments have been utilised at a mass consumer event in Australia, giving thousand of cardholders the opportunity to try out this new convenient payment option.

Commonwealth Bank, Group Executive Retail Banking Services, Ross McEwan, said providing customers with more convenient payment options and faster transaction times is a major focus for the Bank.

"The Royal Easter Show is a Sydney institution and with crowds in the tens of thousands expected each day, contactless payments are ideal to use at the Show. Cardholders simply hold the 'Tap N Go' card up to a MasterCard PayPass terminal on the merchant's counter, wait for a beep and the purchase is complete.

"This means that consumers don't need to count change or worry if they have enough cash on hand to make a purchase. It's quick, easy and convenient, giving them more time to enjoy everything the Show has to offer, while merchants will benefit from more sales, higher transaction volumes and reduced costs of cash handling," said Mr McEwan.

Sydney Royal Easter Show General Manager Michael Collins is excited those attending the Show will be able to experience this new payment technology.

"We are really excited to be introducing the contactless payment option to Royal Easter Show patrons, which will provide them with an increased level of convenience giving them more time to get amongst all the wonderful entertainment and activities at the Show," said Mr Collins.

Commonwealth Bank currently has more than three million cards in circulation that can be used to make contactless payments.

"Our involvement in the Royal Easter Show will be a significant milestone on the journey of how people will pay for goods and services in the future. We are focused on continuing to build on the three million plus PayPass cards we already have in market and rolling out more acceptance points with key retailers. Contactless technology is undoubtedly the future of payments," said Mr McEwan.

Contactless payments offer convenience, quicker transaction times and reduces the amount of cash people need to carry in their wallets.

A number of retailers already accept contactless payments including many outlets of IGA supermarkets, Red Rooster, Etihad Stadium in Melbourne and numerous independent retailers, with more installing the technology every week.

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