Commonwealth Bank of Australia (CBA) has launched its latest
mobile banking app Commbank Kaching, that aims to enable CBA
customers to make peer-to-peer payments using a person’s mobile
phone number or email address.

CBA’s also plans to extend the functionality of Commbank Kaching
to social networks through a user’s Facebook friends.

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The Commbank Kaching app also allows users to pay using
contactless technology at MasterCard PayPass terminals. 

Executive general manager cards, payments and retail strategy,
David Lindberg, said the arrival of Commbank Kaching heralds the
“beginning of a new and exciting journey in mobile payments and NFC
technology”.

“Commonwealth Bank is delighted and proud to lead innovation in
this space, delivering a world-first app that we believe will help
to transform the industry,” said Lindberg.

Lindberg also mentioned that Commbank Kaching “is just the first
step in an evolving journey” and CBA plans to roll out regular
updates with enhancements and functionality in the coming
months.

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Users of CBA’S Commbank Kaching app can purchase an iCarte case
for their iPhone, which aims to turn their phone into a wallet
by using NFC technology to allow contactless ‘tap and go’
payments to be made. The majority of CBA’s apps functionality
can still be used without the iCarte case, which just enables
contactless ability.

In October 2011, CBA processed over 1m MasterCard PayPass
transactions.

CBA’s Commbank Kaching app is available to download free from
the App Store.