In the first phase, Commonwealth Bank is giving iPhone 4 and 4S owners the opportunity to transfer their MasterCard® PayPass™ details onto their smartphone. Since the iPhone does not currently feature an NFC chip for contactless payment, a special cover with a Secure Element has been developed for iPhones to enable NFC data transfer. The iPhone cover, which can be ordered through Commonwealth Bank, is hooked up to the iPhone data interface and automatically communicates with the "Commbank Kaching" app installed on the iPhone. In the next phase, this set of mobile payment functions will also be made available to Android users.
Over the last few years, Commonwealth Bank has pioneered the deployment of contactless technology in Australia. It has supplied the bulk of its customers with contactless dual interface cards which are accepted for making payments at over 42,000 locations in Australia. This fact will help ensure a speedy launch and acceptance of NFC-based mobile payment functions. The NFC payment application needs to be activated by the user and the NFC capability remains active for 60 seconds thereafter. As with the current dual interface cards, amounts below 100 dollars do not require users to enter a PIN at the point of sale.
"Our Trusted Service Management solutions allow our customers to implement robust and reliable mobile phone payment systems simply and securely via the mobile network," says Michael Kuemmerle, member of the Management Board and Group Executive of Mobile Security at G&D. As a longstanding partner to banks and mobile network operators, G&D supplies turnkey TSM solutions and takes responsibility for managing the payment function provided over its entire lifecycle. "Our highly secure and certified TSM centers in various regions are an important building block in the NFC ecosystem that will help to speed up the spread of mobile payment systems," Michael Kuemmerle continues.
Via its local subsidiary G&D Australasia, G&D already supplies cards and personalization services to Commonwealth Bank. David Lindberg, Executive General Manager Cards, Payments & Retail Strategy, Commonwealth Bank, says that the bank's decision to continue to use G&D for products and personalization was an easy one, given the quality of service and the cutting-edge technology that G&D is already providing. The exemplary project execution and delivery has confirmed this.