The Commonwealth Bank of Australia (CBA) has introduced Visa support in its CommBank app in a bid to increase contactless payment options.
The initiative will enable all Visa credit cards and business debit cards holders to make contactless payments through Tap & Pay functionality in the app.
The move will also enable users to make payments using Samsung Pay and Google Pay as well as through Fitbit and Garmin’s payment-enabled smartwatches.
CBA acting executive general manager for Everyday Banking Michael Baumann said: “Since 2013, our customers have been able to use their smartphones to make payments.
“By extending the suite of CBA supported digital wallets to our Visa cardholders, we’re providing our customers with even more options to make a payment at the point of sale, whether that be through the CommBank app or their smartwatch.”
Besides Visa support, the bank has published new data that shows significant surge in POS payments.
The data revealed that usage of smartphone to complete transactions and payments increased by more than 35% in the last six months.
In the first six months of this year, there more than 16.8 million tap and pay transactions were made through the CommBank app.
Baumann added: “We’re seeing customers who are stretched for time taking advantage of the ease and convenience of digital payments.
“Our data has revealed that groceries, food and beverages and petrol are the most commonly purchased goods.”
The data also suggest that around 75% of all digital wallet customers are men. Around half of digital wallet users are in the 20 – 29 age group, and around one third are between 30 and 39 years of age.