Coles launches free mobile wallet supported by MasterCard for iPhone and Android
As Visa payWave, MasterCard PayPass and AMEX Contactless cards increase in popularity, Coles has launched its own contactless payment technology called “Coles Mobile Wallet”, supported by MasterCard for iPhone and Android users.
Coles described the new technology as an “Australian retail first”, which gives Coles customers the option to pay with their Coles MasterCard and activate the flybuys rewards points using their mobile phone.
The Coles Mobile Wallet can be used for free with no additional fees and connects with the Coles Pay Tag, as well as a new Coles App that lets customers view their account balance and transaction history 24 hours a day.
The Coles Pay Tag feature – a credit card and flybuys card in one - allows Coles customers to stick the card to the back of their mobile phone and pay by holding the phone against the PayPass reader. 77% of customers said they found the Coles Pay Tag more convenient than using a traditional credit card.
Coles financial services manager Richard Wormald said customers are doing even more from their mobile devices, whether that be surfing for recipes or managing their finances. “With this in mind, it is exciting to launch the Coles Mobile Wallet which puts customers in control of their spending and introduces Australians to an entirely new way to pay.”
“Now partnered with the new App, the Coles Mobile Wallet will provide functionality, a seamless user experience and instant rewards – unlike any other credit card in the market.”
MasterCard’s SVP & country manager Andrew Cartwright said that with one in two transactions below $100 now made with contactless technology, Australia continues to lead the way in payments globally. “The Coles Mobile Wallet follows the success of MasterCard’s PayPass technology, and is testament to the growing appetite of Australians for fast, simple and secure payment methods.”
Coles today also announced a joint venture with GE Capital Australia, which will see the supermarket giant expand its offering further into the financial sphere.
See what the other credit card providers are up to in Mozo’s credit card hub here.