Commonwealth goes live with phone payments

Commonwealth Bank's updated internet banking application Kaching (which only works with the iPhone smartphone) finally became available for download from Apple's App Store yesterday. CBA announced Kaching almost two months ago.

The application also allows for peer-to-peer payments (most easily achieved between two CBA customers) and can be used for contactless payments too, the latter a novelty for smartphones in the Australian market.

Bank customers must pay A$54.95 for a case that includes the required chip facilitating contactless payment.

Source: Banking Day