Left your wallet and cards at home and need to pay? Need to make a quick payment to your friends on Facebook…no worries, use your mobile!
Ok, I’ve said it in the past that I think the banks have been doing well in the way they’re thinking ahead of coming up with mobile apps that are based on providing “on-the-go” utility leveraging the growth in the area of mobile technology. Back in July 2011, we wrote a piece on when we noted that the Commbank updated their App and also another quick blog on the future of mobile payments and why it’s all that important.
Almost all the major banks and the mid-tier ones too such as co-op’s and building society’s have come up with mobile banking apps. Sure you’ve seen that the banks have started to use this in their marketing too, as in – you would have spotted a poster when you entered a St George or a Westpac or any other bank, looked at a bus-side talking about their mobile banking facility. For those who have used the ANZ’s “Pay to Mobile” feature, it does work like a breeze specially from one ANZ to another ANZ customer account. And now – to add to all this, the Commonwealth Bank of Australia have launched their ‘Kaching’ app. For those who are unaware of what ‘Kaching‘ means – it’s a slang thingy meaning to “cash in” or make a lot of money. Sometimes, “rich” this being derived from the sound of an old fashioned cash register – get it? “Kaching” “Kaching”… not a bad thought as the CommBank mobile app is about payments — wonder if the app makes the “Kaching” noise too 😉
Here’s the AppStore link to download the Kaching App and here’s a page on the Commonwealth bank Kaching website with a video showing how Kaching works – check it out.
So, what does this CommBank Kaching App do?
- Send money to someone using their mobile number
- Make payments using your email contacts or by entering an email address
- Make payments to your Facebook friends
- Shop without cash or cards by holding your iPhone4S or 4, using the iCarte case, over the PayPass™ contactless terminal
- Make payments via BPAY® or with an account number and BSB
There’s a requirement mentioned too that users first need to be registered for NetBank and have NetCode activated to make payments and purchases using a mobile phone and the Recipients of payments via mobile, Facebook and email need an Australian bank account to claim.
Whilst it’s really early days, both banks and users have a lot of extra areas to be cautious of I guess, in terms of security and how tight the measures are – and it’s great that users are able to do all this but not to forget that we’re in a hyper connected world and now our information is being accessed by multiple applications so yes there are exciting times ahead in terms of convenience and the fact that we are entering another new era of cashless transactions, security is going to be of prime importance.
Android is on it’s way
The Commbank Kaching is compatible with all iPhone’s operating iOS 4.2 and above. The Commbank Kaching for iPhone 4S, 4 3GS and 3G, you can pay anyone via mobile, email or Facebook, make BPAY payments and transfer money between your Commbank accounts. An extra bit of stuff you need to do to set up your iPhone 4S or 4 for contactless payments by ordering an iCarte case from Commbank via the app. When you receive and activate your iCarte case, just hold your iPhone 4S or 4 over any PayPass™ contactless terminal to pay for purchases under $100.
Read more on the App Store description – Link Here – Seems like the Android fans will have to wait for a bit more as per the note on the website but knowing Commbank sure the Android and the tablet version won’t be too far down the track!
The Commbank’s media release section on their website claims this App is the first in the world that you would be able to make payments to your Facebook friends which is an awesome feature I think as you now don’t need to worry about asking your mates that you some beer monies for their BSB and account number details which I’m sure most of us don’t even remember or if we do remember, we need to recheck somewhere on our bank statements or a notepad hidden somewhere.
It’s a New App
One thing I’m still a bit unsure of is when I’ve got the CommBank App which also allows me to login to my mobile banking which I’ve been using for quite a while now, the Kaching is an all together new app that one needs to download. No wonder it does use the same access details but not sure why this is done as an altogether new app, being a customer I would’ve liked to see this integrated into my current mobile banking behaviour.
NFC but still uses external hardware
To use the contact-less PayPass payment you still need to buy a piece of hardware that is in effect your NFC (Near Field Communication) reader by buying an iCarte case (for A$54.95) through Commbank and I tell ya it was quite hard to find where to buy this! Having searched for quite some time on almost all of the Commbank’s websites, we then found the below info on the support page
iCarte cases are available for order within Commbank Kaching. In the ‘Cards’ tab, select the credit or debit MasterCard you wish to set up, press the ‘Set up PayPass’ button and follow the on screen instructions.
It seems like the purchase of the iCarte case needs to be made from within the App itself but I did not have that option showing up of buying the iCarte case…not sure why, maybe the reason being that I don’t have a master card. But would’ve thought that if that was the case, it would’ve been used as an opportunity to sell me one? But, there’s no obvious link from any online site that you can buy the iCarte case from – must be s
We did register interest to hear about this app a few months ago but didn’t hear about this and just a few days ago we came across this App while googling something about the upcoming NFC technology I think it was…or maybe it’s that we jumped the gun and searched for it even before they could let us know. But at the end of the day, Kaching is here and must say Commbank have taken a giant step to try and move ahead in the world of mobile payments.
Sure, as we go on – there will be more and more phones with inbuilt NFC and other mobile payment gateways that we can use so we don’t external cases but for now it’s “KACHING KACHING” time 😉