Wednesday, 30 January 2019 05:41

Bankwest claims quarter of customers using payment ring

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The Halo ring being used to make a contactless payment. The Halo ring being used to make a contactless payment. Courtesy Bankwest

A little more than a quarter of Bankwest's customers, who have both a debit Mastercard and a Halo contactless payment ring issued by the bank, are using the latter for their purchases, according to an analysis of the spending habits of these individuals.

Bankwest, a division of the Commonwealth Bank, said in a statement on Tuesday that these purchases referred to were made by customers in person on eftpos machines via a Bankwest debit Mastercard or a Bankwest Halo ring linked to a transactional account.

The Halo ring was issued by the bank a little more than a year ago. Bankwest executive general manager, Customer Solutions and Insights, Pieter Vorster (below right), expressed delight at how customers have responded to the issue of the ring.

“The speed at which using the Bankwest Halo has become the norm for so many of our customers shows how flexible Australians are in the manner in which they want to be able to pay for their goods and services," he said.

“The popularity of the Bankwest Halo, coupled with the 88% increase in logins to our mobile app that we’ve seen over the last three years, clearly shows how Australians are adapting to today’s digital landscape with some of the highest adoption rates in the developed world."

bankwest executiveThe analysis of the bank's customers' spending habits also showed that the Halo ring had been used by 38% of those making purchases during the Christmas period.

Vorster said: “When the ring first arrives in the post it seems, perhaps understandably, the customer is a little wary and will test the waters by buying a few low-value items at first.

“But, after a few days, they’re getting used to it and the value of the transactions they make go up and soon it becomes their main method of paying at the till.”

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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