Update
Correction.. the Kaching app has been downloaded more than 100,000 times, Commonwealth Bank haven’t released figures on how many transactions have taken place.
Two months ago, Commonwealth Bank launched a mobile app, paired with an iPhone case to bring NFC transactions to CBA customers. The mobile payment platform is called Kaching and the application has now been downloaded over 110,000 times as of February 13th. A substantial number given the early stage that NFC adoption is at.
While they aren’t saying how many individual customers are using Kaching, you’d expect those that use it, love it and continue to use it where accepted. The Commbank Kaching app is still 2nd in the free finance section of the Australian app store, impressive, considering first place is held by CBA’s other banking app.
Commonwealth Bank say that over half of their 10 million customers own a smartphone, so while the number of downloads in 2 months is a great start, there’s a long way to go. The first comment on the associated blog post asks for an Android version, to which Commonwealth bank replied with this..
So with an Android version on the way.. one wonders about the other emerging smartphone platform.. Windows Phone 7. While we wait for Apple to include NFC into iOS devices, Android and soon Windows Phone devices will be shipping with NFC built-in. This means the temporary work-around of the Kaching Case will be a thing of the past.
With the transition from standard EFTPOS terminals to those supporting the next generation contactless payment systems, it’s surprising to note that the heaviest use for Kaching, wasn’t actually at the register.
While mobile to mobile payments have proved to be the most popular transfer method (85 per cent), what’s been surprising is the popularity of Facebook payments which are growing rapidly. Facebook is second most popular transfer method with customers, accounting for more than 10 per cent of Kaching transfers.
While we knew Facebook would be an important feature to offer our customers, it’s an interesting growth area and indicates a distinct shift towards how Australians are seeking out new ways of making payments. It certainly broadens the mobile channels available and shows just how important it is to keep technology evolving for customers.
More info @ Commbank Blog.
