Small businesses that bank with the Commonwealth Bank of Australia (CBA) will soon be able to accept payments of less than $100 by simply tapping a mobile phone with their customer’s contactless card or mobile wallet.

CBA has partnered with Mastercard, IDEMIA and Samsung Electronics Australia to bring the Mobeewave SoftPOS technology to its account holders. Mobeewave will provide a white label solution to the bank, leveraging IDEMIA’s digital enablement platform.

Sam Itzcvoitz, managing director of commerce and platforms at Commonwealth Bank, 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 of 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.”

Maxime de Nanclas, COO and co-founder of Mobeewave, added: “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.”

The new solution will allow small business with CBA bank accounts to accept Mastercard transactions on Samsung flagship devices from the second half of 2018.

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