CommBank Kaching coming to Facebook

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Michelle Starr is the tiger force at the core of all things. She also writes about cool stuff and apps as CNET Australia's Crave editor. But mostly the tiger force thing.

The Commonwealth Bank today announced that it will be bringing its Kaching banking app to Facebook.

Kaching for Facebook will allow you to notify your friends whenever you make a payment.
(Credit: Michelle Starr/CNET Australia)

Kaching will be accessible through Facebook's apps, and will allow Commonwealth Bank customers to do their banking from within Facebook.

CommBank was unwilling to say a great deal about it, at this time, but it did reveal that customers will be able to view balances and transactions, pay bills via BPAY, make third-party transactions protected by NetCode SMS and make real-time peer-to-peer payments to their Facebook friends.

And, when that's done, customers can post that information to their wall or a friend's wall.

Andy Lark, chief marketing and online officer, clarified that it would be mainly for social use — such as paying dues to a social group. "I could pay my plumber, but I wouldn't post that to my wall, because it's boring," he said.

The bank was also careful to explain that it was taking security very seriously, and that any unauthorised transactions would be 100 per cent covered by a security guarantee.

"The power of Facebook for payments is only now becoming clear. It will change banking for consumers and for small business — providing hundreds of thousands of merchants in Australia with full payment systems access. No matter how sophisticated a business' online presence is, they will now have access to a state of the art payments capability, making a level playing field for all," said David Lindberg, executive general manager cards payments and retail strategy.

CommBank couldn't give a concrete time frame, only saying that Kaching for Facebook would be rolled out sometime before the end of 2012.

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AndreyK posted a comment   

Considering that facebook is pretty vulnerable (relatively, it's not exactly an open door either) it when compared to some giants (say google) I'd say that CommBank will close the service after a few of those 100% security money back cases.


MahmoudE posted a comment   

can't judge before putting hand on the app. However, before jumping into Facebook CBA needs to deliver a kaching app for android and windows mobile first!


Michelle Starr posted a reply   

I have news for you!

No NFC, though.

And probably not coming to Windows Phone at this point: CommBank has looked at the market and decided that iOS and Android are the best markets for the time being.

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