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 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.”