Commbank Kaching is a revolutionary iPhone app that will change mobile payments forever.
Now you can pay your friends using your mobile, email or Facebook contacts. You can even make contactless payments when you use an iCarte case. This revolution has stirred up a lot of excitement, and questions.
The December launch of Commbank Kaching has people wondering about whether or not the app is really free, if bank information will be stored on your iPhone and if Android users will get a piece of the pie. We’ve separated fact from fiction so you have a better understanding of how our new app will make mobile payments and banking on the go even easier.
There is a charge to download or use Commbank Kaching.
The Commbank Kaching app is free to download and use.
For contactless payments, customers will need to purchase the iCarte case which is ordered through the app for $54.95 (including postage and handling). Commbank Kaching works without the iCarte case for all its other functions.
Any fees and charges that apply to your account will continue to apply to transactions made using Commbank Kaching. Downloading and using Commbank Kaching, you will be subject to the relevant mobile data-usage plan as per your agreement with your mobile telecommunications provider.
You can only use Commbank Kaching to pay people via your Facebook contacts.
Using your Facebook contacts is just one of your payment options – you can also pay people using your phone and email contacts too.
Commbank Kaching is only available for transactions with other Commonwealth Bank customers.
Individuals who don’t belong to Commonwealth Bank can still receive money paid to them using Commbank Kaching as long as they have an Australian bank account. If they don’t have Commbank Kaching, they’ll have to use a payment code to get their payment from a separate website; www.commbank.com.au/collect
Commbank Kaching will only be available for the iPhone.
The Bank will be developing a Commbank Kaching app for Android and is considering it for other platforms as well. Currently Commbank Kaching works for iPhone 4S, iPhone 4, and iPhone 3GS (with version iOS 4.2 or more recent).
You’ll need a special iCarte case, which enables NFC technology, to use Commbank Kaching.
You’ll only need the NFC-enabled iCarte case for contactless payments. All other features of the app work without the iCarte case.
You can’t charge your phone with the iCarte case attached.
There is a microUSB port that lets you charge your phone with the case attached. A charging cable is supplied when you purchase an iCarte case.
The iCarte case will make your phone’s Apple warranty void.
It will not void your Apple warranty. The case was designed for the iPhone by Canada-based vendor Wireless Dynamics and is presently used for mobile contactless payments throughout Europe via a partnership with Visa.
CommBank Kaching isn’t secure.
Commbank Kaching incorporates a range of measures, which in combination, deliver high standards of security and provide customers with peace of mind when making mobile payments. These include:
- strong customer authentication procedures;
- device-level security controls;
- robust monitoring; and
- the backing of our security guarantee.
Our 100% security guarantee means the Bank will cover any losses should someone make an unauthorised transaction on a customer’s account provided customers protect their PIN and password, and immediately notify us of the loss, theft or misuse of their PIN and password and of any suspicious activity on the account.
There’s no limit to the amount you can spend or transfer with Commbank Kaching.
There’s a combined limit of $500 a day for payments made to your mobile, email and Facebook contacts. However, if you pay to a mobile contact / number and that person is also registered for Commbank Kaching, then your daily NetBank transfer limit will apply.
You can only use Commbank Kaching for contactless payments via a MasterCard® Pay Pass™ terminal.
You will be able to use Commbank Kaching where ever contactless payments are accepted. You will need:
- To be registered for Commbank Kaching
- An iPhone 4S or iPhone 4 with an iCarte case attached
- A PayPass enabled credit or debit MasterCard
The small print:
You must be registered for NetBank with NetCode to make payments and purchases using a mobile phone. Recipients of payments via mobile, Facebook and email need an Australian bank account to claim. A limit of $100 applies to contactless purchases without a PIN or signature at participating merchants. Subject to network provider coverage. Other conditions and fees apply.
In order to be able to perform contactless payments, customers need either an iPhone 4S or iPhone 4 equipped with an iCarte case. iCartes can be purchased through the Commbank Kaching app for $54.95 (including postage and handling).
MasterCard and the MasterCard brand mark are registered trademarks of MasterCard international incorporated. MasterCard PayPassTM is a trademark of MasterCard International Incorporated.
Apple and iPhone, are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.