Commonwealth Bank announces online evolution for small to medium businesses

Tuesday 28 April, 2009: The Commonwealth Bank has today announced an eVolution in the way small to medium businesses can develop, integrate and manage their online shop front, including online payment facilities, – with the launch of Commonwealth Bank eVolve.

A comprehensive end to end e-commerce solution for businesses, Commonwealth Bank eVolve is a transactional services platform designed for business owners who want a versatile online payment facility as well as a comprehensive, self-customisable, online shop front.

In the current economic climate, where doing business online is becoming increasingly attractive for small businesses, it’s only fitting that the Bank provides business owners with a cost effective and comprehensive online e-commerce solution, according to Commonwealth Bank Executive General Manager Local Business Banking, Symon Brewis-Weston.

“For small businesses, online selling can not only enhance their business capability but also be a cost-effective solution given the self-service nature of online shopping,” he said.

Commonwealth Bank General Manager Merchant Services, Dominic White, said the e-commerce solution is for people who want to focus on their business, not on managing technology, and moves away from the usual costly and IT intensive barriers to doing business online.

“Commonwealth Bank eVolve is designed to be a simple, low-cost way for small businesses to get onto the Web in a way that works for them.  The temptation for financial institutions tends to be to white label existing packages from various service providers. Commonwealth Bank eVolve moves away from this model,” Mr White said.

“We have listened to what our customers have told us is important to them, and following a successful pilot with a group of the Bank’s business customers in February 2009, we believe the functionality of Commonwealth Bank eVolve meets these needs.”

Commonwealth Bank eVolve merges standard card processing functionality – such as a virtual terminal and batch payment functions – with advanced technical solutions including:

• eVolve iSHOP - business owners are able to design, implement and manage their own online shop front. Including customised website, colour scheme and logo. It can be as simple as uploading and entering product details and selecting a design template for their shopping cart.
• Increased online security - in addition to the payment functions in eVolve, its 'Batch Manager' functionality means details - like credit card numbers - are held securely by this new Commonwealth Bank service.

“eVolve caters for true eCommerce Merchants, bricks and mortar businesses and billers with complex and diverse requirements.

“Commonwealth Bank eVolve has been developed placing the needs of business owners top of mind and the Bank is proud to deliver a big business solution at a small business budget,” Mr White said. 

Click here to learn more about eVolve and see a demonstration