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Commonwealth Bank launches new mobile payment device

Australian Associated Press
·1-min read

Commonwealth Bank is launching a new payments device for small businesses that need to accept payments on the go, such as tradies, gardeners and market stall operators.

The $59 Smart Mini will compete with similar tap-and-go devices such as Square's Reader that connect to a merchant's mobile phone - in this case, via Bluetooth.

CBA said on Monday customers had opened new 109,500 business transactions accounts with it in the second half of 2022, with some of the highest growth in areas that would need a portable payment device, such as gardening, plumbing and painting.

"From speaking to customers, it is clear that the ability to take payments on the go is now a key requirement," said CBA group executive for business Banking, Mike Vacy-Lyle.

"Smart Mini meets this need with seamless and secure integration of mobile payments with their main transaction account, saving valuable time in managing multiple accounts."

CBA said that its research shows that an increasing number of Australians are starting small businesses.

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