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March 7, 2013updated 04 Apr 2017 4:12pm

CBA launches Kaching payment app for Facebook

Commonwealth Bank of Australia (CBA), Australia's second-largest bank by assets, has launched its Kaching mobile payment app for Facebook.

By Stephen Little

Commonwealth Bank of Australia (CBA), Australia’s second-largest bank by assets, has launched its Kaching mobile payment app for Facebook.

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According to CBA, the app will enable users to make payments to Facebook friends and anyone with a mobile number or email address.

CBA said customers using the app would be able to make payments to Facebook events and gift payments from within the social network to friends and family on special occasions such as birthdays.

Customers can also post payment requests for joint birthday presents or holidays on their friends’ timeline or in a private message.

Andy Lark, chief marketing and online officer at CBA, said that as social banking started to take off, more customers would embrace a range of payment options as they started to integrate their everyday needs within their social networks.

He added: "With Facebook popularity skyrocketing to more than 55% of the population in Australia, we know our customers, particularly Facebook’s core user base of 18-35 year olds, are looking for new ways to connect their banking and their lives, friends and causes inside Facebook."

 

Related articles:

CBA seeks to understand consumer spending

CBA launches new online investment platform

Mobile banking usage in Australia soars: (MISC) Market Intelligence Strategy Centre Australia

 

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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