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Commonwealth Bank of Australia reports increase in digital wallet transactions

Monday 13 April 2020 15:11 CET | News

The Commonwealth Bank of Australia noted that there’s been a significant increase in mobile-based digital payments at point-of-sale (PoS) terminals. 

 

This, as Australian residents may be trying to avoid physically touching PIN pads, following the deadly Coronavirus (COVID-19) outbreak. The CBA’s latest analysis uses data provided by Mastercard and Visa. The data reveals that digital or online wallet users in the country performed a record number of transactions valued at around $1 billion during March 2020. This is notably a 17% increase from March 2019.

The bank said that there were a total of around 36 million online wallet transactions conducted last month. They reportedly included transfers facilitated by CBA Tap & Pay, Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay devices. This figure is up significantly from 33 million digital wallet transactions carried out in February 2020. It’s also greater than the 34 million transactions settled in December 2019.

The latest data analysis performed by the CBA has been released shortly after a ruling by AusPayNet to increase contactless payments card limits from the previous AUD 100 to AUD 200, in order to avoid making physical contact with the PoS terminals as much as possible.




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Keywords: The Commonwealth Bank of Australia, mobile payments, POS terminal, POS contactless payments, Australia, payments, Tap & Pay, Apple Pay, Google Pay, Samsung Pay, Fitbit Pay , Garmin Pay
Categories: Payments & Commerce | Mobile Payments
Countries: Australia
This article is part of category

Payments & Commerce