The new service combines the near field communication (NFC) of Coles Pay Tag with an app for iOS and Android and comes after what Coles describes as a "successful" two phase trial.
Coles said the app features many account management options for Coles MasterCard and FlyBuys accounts. The service is limited to Coles MasterCard customers and to purchases under $100.
Coles General Manager of financial services, Richard Wormald, said customers are doing more with their mobile devices.
“Our trials revealed that 77% of Coles MasterCard customers found the Coles Pay Tag more convenient than using their traditional credit cards. Now partnered with the new App, the Coles Mobile Wallet will provide functionality, a seamless user experience and instant rewards – unlike any other credit card in the market.”
“It allows customers to take their credit card and their FlyBuys card and put them both on their phone,’’ he said.
“They can leave their wallet at home and go shopping.”
The wallet effectively replaces the need for consumers to carry cards and cash. Coles says it already has more than 400,000 credit card customers since the company began offering them in 2012.
MasterCard Australia’s country manager Andrew Cartwright said Australians’ appetite to use contactless payment technology has continued to expand and they are now the most prolific users of “tap and go” in the world.
“More than 320,000 contactless terminals are now available nationally giving mobile wallet customers the opportunity to use the convenient payment method at a wide range of retailers,’’ he said.
For more information visit http://www.colescreditcards.com.au/