CommBank ramps up mobile wallet with loyalty cards and offers

The Commonwealth Bank has introduced a loyalty feature to its CommBank app, and plans to pilot its Offers app in conjunction with Scentre Group at a single Westfield shopping centre

In efforts to further enhance its mobile wallet offering, Commonwealth Bank has announced two new additional features to its mobile banking portfolio.

The first is the incorporation of a feature dubbed Loyalty to its existing CommBank app. Already available on Android, with an iOS version available in "coming weeks", Loyalty will enable customers to digitally store their loyalty cards on the banking app. Customers will be able to do this by scanning the barcode of their physical card, and a digital version will be added to the CommBank app. Customers will then be able to scan their loyalty card at checkout.

For Android owners, customers will also have the option to use the existing tap and go feature to make their payment when they hand over their digital loyalty card. However, for iPhone owners that wish to use tap and pay will still have to rely on the PayTag sticker, or use other forms of payments.

Initial loyalty programs that have signed up to participate include Flybuys, Priceline, Woolworths Everyday Rewards, Ikea Family, T2, NIB, and Myer One.

Commonwealth Bank also announced that it will be collaborating with Scentre Group to pilot its Offers app. The app has been designed to allow CommBank customers shopping at a Westfield shopping centre to opt-in to receive tailored offers from merchants on their smartphones based on their shopping behaviour.

(Image: Supplied)

According to Bill Burton, Scentre Group general manager, offers will initially rely on the current network of beacons that have been installed across its shopping centres, but there are plans to look at using Wi-Fi networks overtime.

"We have a series of technology platforms across our shopping centres which is allowing us to get a better picture of location. Tragically, GPS doesn't work in our big concrete buildings. There's a lot of stuff to do to get that blue dot to appear so people can understand where they are, and how to get to places," he said.

When customers are notified about an offer, they will be able to redeem it instantly at point of sale by showing the offer to the merchant before being charged the net amount. Customers will also have the choice to save the offer for later.

The pilot is expected to commence in August with one initial participating Westfield shopping centre. CommBank customers that live in the geography of the centre will be invited to participate.

Customer notification of offers will be reliant on beacons that currently exist in the Westfield shopping centres.

Angus Sullivan, consumer finance payments and strategy executive general manager, said the announcements add to the company's goal to give customers more control over their finances. Currently there are 3.7 million unique users on the CommBank app.

"We're really positioning ourselves as the owners of the mobile wallet for our customers," he said.

The announcements will add to Commonwealth Bank's other mobile wallet offers including Tap & Go payments, which was introduced earlier this year through Host Card Emulation-based technology to any Android smartphone with NFC running KitKat 4.4 and above, and cardless ATM cash withdrawals.