Coles has launched its own mobile wallet to make shopping more convenient for customers.
The mobile wallet integrates with the supermarket operator’s Pay Tag smart tag, which features MasterCard PayPass. Pay Tag sticks to any smartphone and allows users to make contactless payments at any retailer that has PayPass.
The tag is used in conjunction with the Coles app for Android and iPhone devices.
In October 2013, Coles announced that it was trialling the mobile wallet with 5,000 customers.
A Coles spokesperson told Computerworld Australia that trials of the Coles Pay Tag were conducted with GE Capital, MasterCard, and Gemalto.
Phase one of the trial took place from February 2013 while phase two took place in October last year. Fifty customers took part in phase one while 5000 customers took part in phase two.
According to Coles financial services general manager Richard Wormald, 77 per cent of the 5,000 customers found the Pay Tag “more convenient” to use than their traditional credit cards.
He added that the Coles Mobile Wallet is free to use, with no additional fees or charges.
“Customers can manage their account 24 hours a day with access to their account balance, available credit and transaction history.”
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In addition, Coles customers can view their flybuys account points balance on their phone and turn the Pay Tag on or off. The mobile wallet includes MasterCard’s Falcon anti-fraud technology.
According to MasterCard Australia country manager Andrew Cartwright, more than 320,000 of its PayPass contactless terminals have been rolled out in Australia so far.
Computerworld Australia has contacted Coles for more information.