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The Kaching! product means that customers, via the app, can pay each other via email, Facebook and mobile, and via an iCarte case for iPhone, or pay via MasterCard's contactless PayPass terminals. Users don't have to be Commonwealth Bank customers to receive payments, either, with non-bank customers directed to an external collection site.
The app will be compatible with iOS 4.3 and above, according to the bank, with cases designed for the iPhone 4 and 4S.