CBA finally brings eftpos option to Apple Pay

Millions of Commonwealth Bank debit card holders are now able to get cash out with over-the-counter Apple Pay transactions after eftpos was added as a payment option on the Cupertino platform.

Australia’s largest bank quietly introduced dual-network support this week, giving customers the choice of picking ‘eftpos SAV’ or ‘eftpos CHQ’ for purchases made via debit cards linked to Apple Pay.

The eftpos option, which big four competitors ANZ and Westpac both introduced last year, comes at a time when cash withdrawls are at their lowest level in years thanks to the pandemic.

Until now, CBA customers have been restricted to using credit card scheme rails from US payments giant Mastercard.

In addition to cash withdrawals, the feature – which only becomes visible after a debit card is removed and re-added to the Apple Wallet – also allows customers to avoid Mastercard surcharges.

To read more, please click on the link below…

Source: CBA finally brings eftpos option to Apple Pay – Finance – iTnews