Commonwealth Bank is offering online checkout solution

Australia’s Commonwealth Bank has devised a new service allowing safe and secure online and mobile checkouts for their account holders. The service dubbed Commbank Checkout, is associated to MasterCard’s MasterPass system, and will allow their account holders to place transactions to over 200 retailers in Australia who accept the card company’s ewallet.

MasterCard states that integrating their service with a leading bank instills an added sense of security when placing online transactions. "Studies show the connection to your own financial provider is particularly important when it comes to embracing digital Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term.” Added MasterCard's head of market development and innovation for Australasia, Matt Barr.

"Commonwealth Bank's focus is to offer our customers the latest technology and innovations that simplify payments regardless of the channel they're transacting in." Commonwealth Bank’s executive general manager of cards, payments, Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term & retail strategy, Angus Sullivan also added on the new feature for their account holders.

The service is currently available for Commonwealth Bank customers, and comes with a 100% guarantee for any fraudulent transactions that may occur due to using the service.

MasterCard’s MasterPass was launched last February. MasterCard since then has partnered with over 20 service providers and processors in Australia to offer MasterPass across the continent.

Photo courtesy of Wikimedia