COMMBANK REVEALS NEW MOBILE WALLET INNOVATIONS

• CommBank announces new Loyalty feature in CommBank app.
• Joint partnership with Westfield to pilot tailored merchant offers app to CommBank customers.

Commonwealth Bank today revealed two new innovations to take the mobile wallet experience beyond everyday banking and payments.

• ‘Loyalty’ feature incorporating the convenience of loyalty cards digitally stored in one of Australia’s most popular banking and payments app – CommBank app; and
• CommBank Offers app in collaboration with Scentre Group, piloting tailored merchant offers to CommBank customers shopping in a Westfield shopping centre.

Angus Sullivan, Executive General Manager, Retail Products and Strategy, Commonwealth Bank, said Australians have embraced mobile banking and payments, with more than 3.7 million unique registered users¹ of CommBank app, making the mobile wallet a part of everyday life.

“We are taking loyalty digital by making it easier for shoppers to have virtual copies of their loyalty cards on their mobiles. Even when they forget their cards they can still get their points via the CommBank app. No more digging around in your wallet for a card – this type of convenience is taking us one step closer to a day when you won’t need a physical wallet at all,” he said.

According to industry research:²

• 88 per cent of consumers over the age of 16 are members of loyalty schemes.
• 11 per cent are members of more than ten loyalty programs.
• Women are members of more programs (on average five) and tend to spread loyalty over more programs.

Loyalty in CommBank app

The new Loyalty feature in CommBank app is available today on Android with an iOS version available in the coming weeks. Loyalty enables customers to store all their loyalty cards in the CommBank app, de-cluttering the plastic from their wallet. It’s a matter of scanning the barcode of a physical loyalty card and adding it to the CommBank app to make a virtual copy. Customers can then use the CommBank app to scan a loyalty card at checkout and simply make a payment using Tap & Pay.

The new Loyalty feature makes the most popular loyalty programs in Australia available in the CommBank app. Users will also be able to add additional programs manually.

CommBank Offers app

Commonwealth Bank is partnering with Scentre Group to pilot an app – the CommBank Offers app – that will enable consumers to opt-in and take advantage of tailored offers from merchants that deliver value to customers based on their shopping behaviour.³

Scentre Group’s General Manager, Brandspace, Bill Burton, said, “The partnership with CommBank will leverage our significant investments in digital infrastructure across the Westfield shopping centre portfolio, including the national Westfield Smart Screen network that launched in April this year. Our ongoing technology partnership with CommBank is a key input into our innovation strategies to personalise the shopper experience, excite our shoppers and drive sales for our retailers.”

Mr Sullivan added, “Australian shoppers love loyalty cards and love getting value for money, along with more convenience and rewards from their favourite stores. With these two mobile wallet innovations we are delivering an enriched shopping experience.”

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