CommBank’s ‘Albert’ a game-changer for Aussie businesses

Commonwealth Bank has recently launched a global first EFTPOS tablet that is set to change the way we pay for goods and services and how the bank and its merchant customers gain valuable insights into consumer spending patterns.

CBA’s Managing Director of Payments and Cash Management Gary Roach told SMH that the bank expected tens of thousands of its innovative point of sale device, named ‘Albert’ after Albert Einstein, to appear across Australian restaurants, cafes and retailers.

“The payments landscape is rapidly evolving as Australians embrace new technology and there is a growing need for a more powerful, open platform which can adapt to changing customer needs, and provide real-time analytics and business insights,” he said.

Leading Australian businesses such as David Jones, Amalgamated Holdings Limited which own Rydges Hotels and Events Cinema and hospitality provider the Keystone Group have expressed interest in using the device and are currently working closely with the bank.

The launch of the Albert device is timely given recent research by the Commonwealth Bank which revealed 73% of Aussies have abandoned a purchase in a retail store due to the length of the queue and more than half of those surveyed would leave the store if they had to wait more than five minutes to make a purchase.

The Albert Tablet can assist business in reducing the number of lost sales by allowing customers to skip lengthy queues at the counter by enabling staff to accept payments at the table, on the shop floor, or even offsite at an event or function.

Other key features include the ability to email receipts and invoices, split the bill up to 10 ways, open a customer account that can be paid at a later date and a tracking tool for payments.

“Albert has the potential to dramatically shift the way businesses take payments, offering merchants the ability to completely customise the customer experience from start to finish,” said Roach.