Commonwealth Bank Australia is facilitating its customers so as to leverage smarter payments.
The bank has successfully launched a new payment terminal called Smart, which is integrating the latest technology and customizable features to transform payments in Australia.
Commonwealth Bank launches the Smart terminal
The Smart terminal will see businesses customize their payment experience with an App Marketplace featuring tailored apps in sectors such as health, hospitality and non-profit.
Smart has several in-built features to split payments, add surcharging, tipping, and email receipts, thus making it more convenient for consumers to pay and businesses to get paid.
In an Australian first, the CBA’s Smart terminal also features dual SIM functionality, Wi-Fi, 4G/3G and broadband so as to offer improved connectivity to keep businesses up and running.
Mike Vacy-Lyle, the CBA Group Executive for Business Banking welcomed the payment solution.
“The Smart terminal was designed for the businesses of the future. We used technology and customer feedback to make a payment solution that is more customizable and secure.”
“Smart facilitates businesses to spend more time in serving their customers while also focusing on what matters most to them in their business model, strategy and company goals.”
Benefits of leveraging the CBA Smart terminal
The Smart terminal can accommodate SIM cards from two different network providers.
The Smart EFTPOS terminal is embedded with Wi-Fi and a lite Point-of-Sale (POS) inventory system due to many businesses not needing a more comprehensive integrated solution.
“The new, smarter features will be beneficial for hospitality, retail and healthcare businesses.”
“The advanced features will be helping merchants to save time with in-built surcharging and tipping, plus same-day settlements facilitating them to manage their cash flow,” Mike said.
CBA is planning to further expand their payment options through launching a mobile Secure Card Reader that can easily pair to a business device and make contactless payments.
Designed to be lightweight, mobile and pocket-friendly, the Smart Mini Pay will become essential in facilitating merchants to take this smart payments solution wherever they choose.
The terminal was created in partnership with Verifone and its features meet global standards.
Features of CBA’s Smart EFTPOS payment terminal
- Standalone EFTPOS terminal with a sleek touchscreen display
- Improved connectivity with Dual SIM functionality, Wi-Fi, 4G/3G and Broadband
- Customized payments with App Marketplace, includes hospitality, donations and health apps
- Simple inventory system (lite POS) in-built and free of charge
- In-built Surcharging and Tipping features to recover costs and save time
- The terminal can go paperless with email receipts
- Cash flow control with Settlements on Terminal, Shift Totals and Same Day Settlements
- Improved merchant customer experience with terminal installation offered all week
- Accessibility features like a tactile stencil border, font size and capitalization