Westpac launches social media payment feature
Social media aficionados who bank with Westpac will soon have access to payment features within their favourite messaging apps such as Snapchat and Facebook.
Powered by fintech startup PayKey, the app feature dubbed Westpac Keyboard is expected to launch over the next week in an Australian first.
Westpac Group Chief Executive of the Consumer Bank division, George Frazis, said it would deliver customers who love social media and messaging apps the ultimate banking experience.
“We really want customers to be able to access their money in an efficient and convenient way, particularly when they socialise,” he said.
According to Datafication, 10.5 million Aussies mingle on social media messaging apps, with some 3.4 million using them as a primary form of communication.
But for those not as social media inclined, the Westpac Keyboard has also been built to integrate with the popular SMS apps, WhatsApp and WeChat .
“With SMS and social messaging apps now an everyday part of our lives, it was time to close the gap between social media and mobile banking,” Frazis explained.
Tech savvy social users with Android operated phones will miss out on the Westpac Keyboard however, as it’s only compatible with iOS versions 9.0 and later.
Have a Westpac bank account? Once launched the Westpac Keyboard will allow you to...
1. Pay friends and contacts within the most popular messaging apps (Facebook Messenger, WhatsApp, Twitter, Snapchat, WeChat).
2. Share your BSB and account number with others so they can pay you.
3. Generate a Cardless Cash code for users in your network so they can withdraw funds from any Westpac Group ATM.
How you would use it:
1. Open an eligible social media platform or messaging app of choice on your phone.
2. Once your keyboard pops up as it normally would for you to type in a message, tap the Westpac icon.
3. Choose the banking feature you want to use and complete the process without leaving your messaging app.
Could your bank account do with an upgrade? With over 100 products to compare here at Mozo, you’re bound to find one that ticks all the right boxes.
^See information about the Mozo Experts Choice Bank Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.