28 Oct '11, 2pm

Australian bank launches Kaching iPhone payment app

Australian bank launches Kaching iPhone payment app

Australia's Commonwealth Bank has launched Kaching , the world's first iPhone app that lets users make payments to individuals knowing only their email address, phone number or Facebook ID. Kaching, pictured below, lets users transfer cash by simply clicking on the phone number, email or Facebook ID of the intended recipient and - Kaching! - the money is sent within 1.5 seconds. It is only available to Commonwealth Bank customers transferring money within Australia and if the receiver is not with the Commonwealth Bank, the transaction generates a code that the recipient uses to access their payment from a different website. Last year, UK bank First Direct launched an app that let users transfer money between accounts but users had to have set up a special mobile banking account before it would work. And JPMorgan Chase & Co recently released an app that let users to send mo...

Full article: http://www.electronicsweekly.com/Articles/28/10/2011/5215...

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