Optus joins the digital wallet revolution: Cash by Optus app

Financial providers have been offering Aussie customers digital wallets for sometime now, which allows users to “tap and go” at the checkout terminal using their smartphone. Now Australian telco Optus has joined the digital wallet revolution with its Cash by Optus app, launched in collaboration with Visa and Heritage Bank.

The new Cash by Optus works just like Visa payWave and MasterCard PayPass debit cards and credit cards that use near field communication (NFC) technology to allow the customer to “tap and pay” at the checkout for purchases under $100.

The app is only available to Optus postpaid mobile customers with a compatible Android smartphone, who will need to request an NFC enabled SIM.

Optus mobile marketing vice president Ben White said there are already nearly one million Optus postpaid customers with compatible devices who could download this app, get the SIM and make purchases using Cash by Optus.

“We’re the first Australian telco to launch a mobile payments app, and because it’s compatible with many of the latest Android devices and can be linked to any Australian bank account, we’ve got a huge opportunity to bring this technology to a lot of people.”

While the app uses adopted cryptographic security to protect the customer against skimmers, lost phones should be reported to Optus as soon as possible to close the account.

Want to know more about the digital wallet revolution? Read our tell all guide here.