Australian Banking First: Commonwealth Bank Launches Online Checkout with MasterCard

MasterCard announced the launch of the first bank-issued digital wallet service in Australia powered by MasterPass – CommBank Checkout from Commonwealth Bank.

Commonwealth Bank customers shopping online with CommBank Checkout will now be able to make purchases at thousands of MasterPass-enabled online retailers around the world – and more than 200 Australian retailers including; Event Cinemas, The Iconic, Ozsale, and Booktopia – with a simple click or touch of their tablet, desktop or mobile device.

“We know consumers prefer the comfort and convenience that dealing direct with their own bank gives them. Studies show the connection to your own financial provider is particularly important when it comes to embracing digital payments,” said Matt Barr, MasterCard’s Head of Market Development and Innovation, Australasia.

“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.”

“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. 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% money back guarantee for any fraudulent transactions,” said Angus Sullivan, Executive General Manager Cards, Payments, Analytics & Retail Strategy, Commonwealth Bank.

Since the launch of MasterPass in February, MasterCard has formed partnerships with 20 Australian technology partners including both major payment gateways and shopping carts. These ecommerce payment facilitators open the door for thousands of Australian retailers to access the MasterPass digital acceptance network.

Major merchants to commit to MasterPass include; Bunnings, Sydney Opera House, Catch of the Day, The Iconic, CityBeach, Moshtix, Fishpond, Scoopon, Webjet, Zuji, JB Hi Fi, Buyinvite, Eat Now, Grocery Run, Mumgo and Savvyappliances. Major competition to MasterPass comes from Australian Bank HSBC and their Visa PayWave.

Kristie Atkins, Director of Sales for Amalgamated Holdings Limited which owns Event Cinemas says MasterPass is part of the company’s on-going focus on delivering innovative customer experiences that ultimately drive sales online and on mobile.
“When buying tickets, customers want their experience to be speedy and convenient. Making MasterPass available is just one more way we are ensuring they can do just that, 24 hours a day, seven days a week, no matter where they are,” said Kristie Atkins.

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