Payment technology

MasterCard partners with Commonwealth Bank to offer digital wallet service

220px-MasterCard_Logo.svgMasterCard announced last week the launch of CommBank Checkout—the first bank-issued digital wallet service in Australia from Commonwealth Bank—which will be powered by MasterPass.

Commonwealth customers shopping online can make purchases at MasterPass-enabled online retailers worldwide, and at more than 200 Australian retailers.

“Commonwealth Bank’s focus is to offer our customers the latest technology and innovations that simplify payments regardless of the channel they’re transacting in,” Angus Sullivan, the executive general manager of cards, payments, analytics and retail strategy at Commonwealth Bank, said. “CommBank Checkout is a convenient and secure way for customers to complete their online purchases in Australia and worldwide which will be particularly handy with Christmas fast approaching. This is of course all underpinned by our 100 percent money back guarantee for any fraudulent transactions.”

Since MasterPass launched in February, MasterCard has developed partnerships with 20 Australian technology partners in digital shopping cards and payment gateways, paving the way for Australian retailers to access the MasterPass acceptance network.

“We know consumers prefer the comfort and convenience that dealing direct with their own bank gives them,” Matt Barr, the head of market development and innovation at MasterCard Australia, said. “Studies show the connection to your own financial provider is particularly important when it comes to embracing digital payments. This partnership with Commonwealth Bank is a leap forward for payments in Australia. Harnessing the convenience and efficiency of the MasterPass service, CommBank customers will be able to pay for things whenever, wherever, with the convenience and peace of mind only the most innovative technology can provide.”

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