Pay with­out phone, cash or card


LEAV­ING home with­out your phone, cash or card no longer means you can­not make a pay­ment.

Australia has one of the high­est pen­e­tra­tions of con­tact­less pay­ments – bet­ter known as “tap and go” – in the world and con­sumers have not been afraid to wave their card or phone to pay at the check­out.

But in a world where car­ry­ing cash and wal­lets is dis­in­te­grat­ing, banks are work­ing hard to roll out new ways for cus­tomers to pay.

The Com­mon­wealth Bank is in­tro­duc­ing Fit­bit Pay, Garmin Pay and An­droid Pay on com­pat­i­ble de­vices, al­low­ing cus­tomers to use their smart­watches as well as smart­phones at the check­out.

The new forms of pay­ments in­clude the abil­ity to have a wrist­worn wal­let, which will ri­val Ap­ple Pay on Ap­ple smart­watches.

This will no doubt see more con­sumers ditch tra­di­tional forms of pay­ments and use a “wrist­wal­let” at the check­out.

CBA’s gen­eral man­ager of every­day bank­ing and pay­ments Michael Bau­mann said the bank has 4.4 mil­lion app users.

“You can arm your smart­watch in the morn­ing and set up a PIN and then you are ready to go, with a flick of the wrist you are able to pay,” he said.

“If you take the watch off your wrist, the next time you will have to arm it again with a PIN.”

Ev­ery 24 hours the wear­able de­vice will need rearm­ing by en­ter­ing a PIN.

Mother-of-two Karen Mathie, 43, runs reg­u­larly and said be­ing able to pay with a smart­watch will be so much easier.

“I was out run­ning once and I lost my credit card, it fell out of my back pocket so be­ing able to pay with my watch will be great,’’ she said. “It means I won’t have to carry a sweaty $10 note in my bra.”

Statis­tics from strate­gic in­tel­li­gence firm RFi show 14 per cent of Aus­tralians have a smart­watch, mean­ing the de­vices are gain­ing trac­tion.

RFi man­ag­ing di­rec­tor Alan Shields said while th­ese pay­ments “are easy and quick”, the big test will be whether con­sumers think they need th­ese new types of pay­ments and if they are

se­cure enough to use.

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