CBA’s smart upgrade of its terminals

  • By Zilla Efrat

Commonwealth Bank’s new Smart payment terminals are set to replace its Albert terminals and offer businesses more in-built features to seamlessly manage their day-to-day payments.

The Smart terminal, which will be available nationwide from 25 October, will enable businesses to customise their payment experience with an “App Marketplace” featuring tailored apps in sectors such as health, hospitality and not-for-profit.

Smart’s in-built features allow businesses to split payments and add surcharging, tipping and email receipts.

In what CBA describes as an Australian first, the Smart terminal also features dual sim functionality, plus Wi-Fi, 4G/3G and broadband, which will improve connectivity to keep business up and running.

“These new payment solutions are designed for the businesses of the future,” says CBA group executive, business banking, Mike Vacy-Lyle.

“Using the latest technology and customer feedback, we’re making payment solutions that are more intuitive, customisable and secure.”

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 terminal, developed in partnership with Verifone, also features a standalone EFTPOS terminal with a sleek touchscreen display.

Later this year, CBA will further expand its payment options, launching a mobile Secure Card Reader that can easily pair to a business’s tablet or phone device 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.