The Commonwealth Bank has unveiled a new app for small-business owners, offering users the ability to accept on-the-spot payments, manage cash flow and create estimates and invoices at the time of purchases.
The iOS and Android app is built on the bank’s Pi platform, serving as a point of sale system for BPAY, bank transfers, cash, cheques and, when used in conjunction with the Emmy or Leo portable readers, debit and credit cards.
The app is available for CommBank customers on the bank’s $30 per month, Simple Merchant Plan and comes with an Emmy reader. Both the Emmy and the more advanced Leo (which includes a barcode reader), handle PIN and chip transactions.
The app will make payments more efficient for small-business owners according to Commonwealth Bank’s executive general manager digital channels, Lisa Frazier.
“With the launch of the CommBank Small Business app, we have responded to small business customer demands for faster, more efficient and convenient payment options,” Frazier says. “Available from today, the CommBank Small Business app provides small businesses across Australia with access to state-of-the-art payment technology at an affordable price.”
The Simple Merchant Plan is $30 a month with the Emmy and the first $1500 of monthly card turnover included, a 1.5 percent fee applies to all card turnover over that amount. The Leo is available on a $60 a month plan, but the card turnover limit increases to $3000.