Wednesday, October 26, 2011

Commonwealth Bank Launches Kaching: P2P, Facebook, NFC Payments

Australia's Commonwealth Bank is launching Commbank "Kaching," a mobile payments service supporting both
peer-to-peer payments using the mobile phone’s contacts and email addresses, and social payments to a user’s Facebook friends, along retail payments using near field communications.

The new service will simplify day-to-day payments to anyone, including friends, family, mainstream retailers and small businesses, says David Lindberg, Commonwealth Bank executive general manager. "Now, for the first time, Australian consumers will no longer have to rely on cash or cards to make payments to family, friends or even businesses."

Kaching works with the 42,000 MasterCard-enabled PayPass terminals across Australia.

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