The Commonwealth Bank has released an update to its Commbank iPhone app that will give customers access to near field communication (NFC) services for the first time.
iPhone users like most of their Android counterparts will have to pay a $2.99 fee to use the service. The new update combines many of the features available on the app’s previous iterations and those provided the Commbank Kaching app, the major new feature being the addition of NFC purchasing.
Android users have had access to the service since December 12, 2013, but customers who use an iPhone have waited over a month to get the same features. The Commonwealth bank is the first Australian financial institution to give clients access to NFC, and the bank is hoping that many may think that three dollars is a small price to pay for the convenience.
Commonwealth Bank Executive General Manager Digital Channels, Lisa Frazier, touted the ability of Commbank app users to embrace what she describes as the mobile wallet revolution.
"Our mobile customers can now leave their wallet at home and use their phone to pay for everyday items from a morning coffee, to groceries; while our mobile banking innovations make checking a balance, or paying a bill or a friend, simpler and faster,” Frazier said.
With NFC technology still in its infancy in Australia, Commonwealth customers have become guinea pigs for the technology. The adoption of the technology by the rest of the banking sector may depend upon the experience of Commbank app users.
The Commbank app is available through the app store and Google play.