Australia’s Commonwealth Bank Unveils Contactless Mobile Payments

The Commonwealth Bank of Australia on Oct. 26 unveiled a mobile-payment platform to enable iPhone-owning customers to do online banking, instantly send funds to Facebook friends or to anyone’s email address or telephone number, and, with the use of a special cover, make contactless payments.

The service, called Commbank Kaching, will be available for download as an application for phones using Apple Inc.’s iOS4.3 operating system and above. The contactless-enabled special cover, the iCarte, fits the iPhone 4 and 4S.


Read full article at American Banker.