Mobile phone payment solution launched

A mobile phone payment solution has been launched by the Commonwealth Bank of Australia and MasterCard.

The QkR solution could change the face of shopping in Australia and follows hot on the heels of the Commonwealth's Kaching mobile payment system.

QkR uses cutting-edge near-field communication (NFC) and will completely transform the payment process.

Kelly Bayer Rosmarin, executive general manager of business development at the bank, said: “This is another step forward in the way we are helping to provide Australians and Australian businesses with the very best in convenient payment solutions.”

Although the app was created in conjunction with MasterCard, it works with other payment solutions including American Express and Visa.

NFC has been under development for many years and has been trialled at a number of key locations across the globe already. The first NFC Forum was help in 2004 and was attended by representatives from several leading mobile phone manufacturers, including Nokia, Philips and Sony.

Posted by Samantha Green

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