Commonwealth Bank has signed an agreement with Mastercard, IDEMIA and Samsung Electronics Australia to bring Mobeewave’s SoftPOS technology to Australia. This partnership will enable Australian small businesses to securely accept payments of less than $100 by simply tapping their phones with a contactless card or mobile wallet.
Mastercard research has shown that more than four in five Australian consumers are using contactless payment at least once a week, but fewer are making use of mobile contactless payment services.
Through this partnership, Mobeewave will provide a white label solution to Commonwealth Bank, leveraging IDEMIA’s world-leading Digital Enablement platform. This solution will allow Commonwealth Bank customers to accept Mastercard transactions on Samsung flagship devices from the second half of 2018.
Sam Itzcovitz, Commonwealth Bank Managing Director Commerce and Platforms, said: “This solution gives Australian small businesses the ability to accept in person payments quickly and simply using just their phone so they can get on with running their business. We are proud to be bringing leading brands Samsung and Mastercard together with IDEMIA and Mobeewave to put this innovative technology into the hands of our customers.”
Matt Barr, Senior Vice President, Core, Digital and New Payment Flows of Mastercard Australasia, said: “This pilot brings us one step closer to our vision of “enabling every device to become an acceptance device”. We all use our phones to make payments, why not use them to accept payments as well. With its high use of contactless technology, Australia is an ideal environment to roll out this type of “tap-on-phone” solution. I am proud that together with our partners, we can bring yet another innovation to the market and help merchants to grow their business.”
Mark Garvie, Asia Pacific Managing Director for Financial Institutions, said: “We are delighted to partner with Mobeewave in launching this new and innovative technology as it is the first offering of its kind in the world. The rise of mobile payment solutions in the Fintech market has the potential to seriously disrupt existing payment methods and this will be one of the channels through which that disruption will flow.”
Maxime de Nanclas COO and co-founder of Mobeewave, said: “Commonwealth Bank will be the first financial services institution in Australia to offer the Mobeewave SoftPOS solution. The invaluable support of global leaders like IDEMIA and Mastercard will accelerate the deployment of Mobeewave’s patented technology to forward-looking banks around the world.”
Danny Mandrides, Head of Sales, Enterprise Mobility at Samsung Australia, said: “Samsung Australia is thrilled to collaborate with the Commonwealth Bank, IDEMIA, and Mobeewave, to bring together a mobility solution that breaks new ground for the way merchants and customers transact using Samsung’s latest mobile device technology. By utilizing the customisation of our secure KNOX mobile platform, we have been able to support the delivery of the solution which enables a stable and secure transaction experience.”
The solution uses the secure and customisable Samsung KNOX platform, and IDEMIA’s embedded secure element (eSE) PEARL®.