The Commonwealth Bank has unveiled a new app called Kaching that allows users to make payments via Facebook and email with their mobile phone. The free app will initially only be available to iPhone users, with Android versions to follow next year.

Smartphones become smarter

Kaching offers users the ability to engage in what CommBank is labelling “social banking”. Funds can be transferred via text message, email and Facebook, while features such as BPAY payments are more streamlined.

Contactless payments will also be possible for iPhone 4 and 4S users, though this will require an iCarte case. iCarte is an attachment that transforms the iPhone into an electronic wallet allowing payment for goods and services using the PayPass service.

Social media

The Commonwealth Bank promotes Kaching on its Facebook page, including an explanatory video hosted on youtube.

CommBank asserts itself as innovator

The announcement of Kaching comes as CommBank seeks to assert itself as an innovative user of social media and mobile banking technology. The bank has announced it will double its digital media and advertising spend over the next twelve months, and recently launched its ‘One Hundred Years Together’ campaign across print, television and digital media channels.

A release date for Kaching has yet to announced. In the meantime, users are able to register their interest at CommBank’s website.

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Featured: Commonwealth Bank @CommBank

Article by Dan Kuseta @dankuseta, @smkapac