Commonwealth Bank to lead the Mobile Commerce Market

20 November 2001

The Commonwealth Bank today launched MobileComm, a mobile EFTPOS device, which allows businesses to accept card payments almost anywhere, using the GSM digital mobile phone network.

"MobileComm will be the market leading mobile EFTPOS solution," said Nick Kennett, General Manager, Cards & Financing Products, "and as the leading provider of EFTPOS for debit and credit card merchant services in Australia, the Commonwealth Bank is delighted to be launching such an innovative and superior product to assist businesses remain competitive in the current environment," he added.

"MobileComm enables instant approval of credit and debit card transactions anywhere, anytime, giving enormous convenience to traders and their customers alike. The light and convenient terminal ensures that it can be easily carried anywhere, giving efficiency, flexibility and mobility. The high security also provides merchants with reduced security and bad debt risks, thereby improving their cash flows," he said.

"The Bank will initially focus on installing the technology in high transaction mobile businesses in retailing, repairs and service based businesses, as well as working closely with customers in the B2C and B2B markets," he said.

MobileComm is based on the KeyCorp K78 mobile EFTPOS terminal.

"KeyCorp is proud to have worked closely with the Commonwealth Bank to develop a state-of-the- art mobile EFTPOS, which is the most advanced in Australia,’’ said Bruce Thompson, Chief Executive Officer, Keycorp Limited.