Australia

Reimagining payments for Aussie businesses

  • Written by CBA

Making and taking payments becomes a whole lot smarter today, with the launch of Commonwealth Bank’s new payment terminal ‘Smart’, integrating the latest technology and customisable features to transform payments in Australia.

The Smart terminal will see businesses able to customise their payment experience with an ‘App Marketplace’ featuring tailored apps in sectors such as health, hospitality and not-for-profit. It also includes a number of in built features to split payments, add surcharging, tipping, and email receipts – making it more seamless and convenient for consumers to pay and businesses to get paid.

In an Australian first, the CBA’s Smart terminal also features dual SIM functionality, plus Wi-Fi, 4G/3G and broadband, to offer improved connectivity to keep business up and running.

CBA Group Executive, Business Banking, Mike Vacy-Lyle said: “These new payment solutions are designed for the businesses of the future. Using the latest technology and customer feedback, we’re making payment solutions that are more intuitive, customisable and secure.”

“The Smart terminal will replace our Albert terminals, and among other things, offer businesses more in-built features to efficiently and seamlessly manage their day-to-day payments operations. This means businesses can spend more time serving their customers and focusing on what matters most to them in their business.”

The Smart terminal can accommodate SIM cards from two different network providers, as well as Wi-Fi, and a lite Point-of-Sale inventory system with many businesses not needing a more comprehensive integrated solution.

“The new, smarter features will be particulary useful for hospitality, retail, and healthcare businesses, helping merchants save time with inbuilt surcharging and tipping, and same day settlements to help manage cash flow,” Mr Vacy Lyle said.

Later this year, CBA will further expand its payment options, launching a mobile Secure Card Reader that can easily pair to a business’s own device (tablet or phone) to take chip and contactless payments. Designed to be lightweight, mobile and pocket-friendly, the Smart Mini Pay will enable merchants to take payments on-the-go.

The terminal has been developed in partnership with Verifone and features:

  • Standalone EFTPOS terminal with sleek touchscreen display 
  • Improved connectivity to keep businesses up and running with Dual SIM functionality,​ in addition to Wi-Fi, 4G/3G, and Broadband
  • A customised payments experience with App Marketplace including a hospitality app, donations app and health claiming app
  • A simple inventory system (lite POS) in-built and free of charge, for businesses that don’t need a comprehensive integrated solution​
  • An in-built Surcharging and Tipping features to recover costs and save time
  • Ability to go paperless with email receipts​
  • Easy cash flow management with Settlements on Terminal, Shift Totals and Same Day Settlement​
  • Improved merchant customer experience with terminal installation offered 7 days a week
  • Improved accessibility features including a tactile stencil border to orientate the key numbers and functions, enhancements to font size and capitilisation and increased volume of audio cues.

The Smart terminal will be available nationwide from 25 October 2021.

For more information and to register interest for the Smart terminal visit commbank.com.au/smart-terminal or call CommBank Merchant Payment Solutions on 1800 730 554.

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