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The New South Wales police has charged a second former Commonwealth Bank IT executive for allegedly receiving fraudulent payments.
Major Australian banks have made mobile payments a priority tech initiative and are in various stages of rolling out technology that lets customers pay with smartphones. Commonwealth Bank and Westpac are so far leading the pack, but ANZ Bank and National Australia Bank (NAB) say they are planning to make their own moves soon.
A Samsung Galaxy S4 is no longer required to tap and pay using the Commonwealth Bank mobile app for Android.
Leading on technology is a “life-and-death matter” for Commonwealth Bank, according to CEO Ian Narev.
Commonwealth Bank of Australia (CBA) has beefed up its mobile wallet offering with three additions to the app, including one that enables consumers to withdraw cash using their smartphones from 3,000 of the bank’s ATMs.