Commonwealth Bank says its new payments terminal will offer tailored software apps for businesses and help the bank fend off an attack from Square, which brought slick payment hardware to Australia before buying Afterpay.
The new CBA Smart terminals will replace 80,000 Albert machines in the market and will soon close the loop on CBA CEO Matt Comyn’s strategy to create a retailing “ecosystem” for the bank’s customers.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
