Bunnings And Dymocks Join The Contactless Revolution With Commonwealth Bank

Bunnings and Dymocks Join the Contactless Revolution with Commonwealth Bank

* 15,000 contactless readers currently in market with new partners bringing this to more than 20,000 by end of 2010

*Close to four million PayPass debit and credit MasterCards issued

Sydney: Faster and more convenient payment options are becoming a reality for Commonwealth Bank customers, with the Bank announcing further momentum with contactless payments.

Bunnings and Dymocks have signed on to offer customers a faster way to pay using their Commonwealth Bank debit or credit card when paying for items less than $100.

With the Bank's new major contactless partners on board, the number of Commonwealth Bank contactless readers across Australia will grow to more than 20,000 by the end of the year, alongside nearly four million PayPass enabled debit and credit MasterCards.

Kelly Bayer Rosmarin, Executive General Manager Business Products and Development, Commonwealth Bank, said, "Commonwealth Bank continues to rollout contactless technology across our merchant and card portfolio. Retailers are embracing the benefits of contactless payments and we are making major in-roads in this space. We set ourselves a target of 15,000 readers in market by the end of this year and we achieved that milestone at the end of August, four months ahead of schedule.

"With Bunnings and Dymocks now on board alongside independent retailers including select IGA Supermarkets, Boost Juice, Red Rooster and Etihad Stadium, consumers can now really enjoy convenient and faster payments with merchants that are not only relevant to our customers everyday lives, but where speed of payment makes a difference to the customer experience."

Bunnings will commence its pilot across all South Australian stores in November before rolling out to all stores nationwide in early 2011. Dymocks has installed readers within its Sydney flagship George Street store with all stores to be contactless enabled by the end of October.

Cathy Tiberio, Finance Director, Dymocks, said, "Contactless payments will have wonderful benefits for our customers. This innovative technology will mean faster transaction times for customers' reducing queuing times and improving their in-store experience."

"The very nature of our contactless partner's business means speed of service is essential and with Christmas just around the corner, contactless payments will play an important role in reducing queuing times. The entire process takes just a few seconds, so it is actually faster than paying with cash while reducing the need to carry money," added Ms Bayer Rosmarin.

Contactless payments allow customers to purchase low value items of $100 or less without the need to enter a PIN or sign. Instead, PayPass cardholders just tap their card against a contactless reader. Once the card has been tapped, the transaction uses a secure network to automatically add the purchase to the customer's credit card bill or debit it from their transaction account.

For more information visit: http://www.commbank.com.au/personal/credit-cards/get-more/making-payments/paypass.aspx

Media looking for further information should contact:
Sarah Gibbons
Commonwealth Bank
P: (02) 9118 1706
M: 0403 681 515
E: [email protected]

SOURCE: Commonwealth Bank