Optus has launched a new app that will allow customers to leave their wallets at home and make payments below $100 using nothing but their smartphone.
Cash by Optus is a contactless payment app which was created in partnership with Heritage Bank and Visa.
It uses the NFC (near field communication) feature on Android smartphones and Visa PayWave technology to make purchases under $100.
Optus is the first Australian telco to offer a contactless mobile payments app which can be linked to any Australian bank account.
Cash by Optus works like a Visa pre-paid credit card with customers able to load up to $500 at a time into their account.
What’s needed is an Optus post-paid mobile account, a compatible Android smartphone and an NFC-enabled SIM card which is available from Optus if you don’t already have one.
You don’t need to have an account with a specific bank or need any type of card.
It’s easy to check your Cash by Optus balance any time you’ve got an internet connection and also check out your transaction history.
“As technology and communications converge, Cash by Optus is a natural evolution for Optus,” said Ben White, Optus vice president, mobile marketing.
“This is our first step towards launching future contactless applications in areas like public transport. Australians never leave home without their mobiles, so it makes sense to build this technology into smartphones now.”
Customers can check if their Android smartphone is compatible here.
Apple’s latest iPhone 6 and iPhone 6 Plus have NFC onboard but for now they can only be used with the future Apple Pay system which will arrive in Australia next year.