22 March 2012
National Australia Bank’s (NAB) small business customers will be able to accept credit card payments on the move via mobile phones and tablets under the latest upgrade to mobile banking platforms unveiled.
The increased functionality on NAB’s Business Banking merchant platform, NAB Transact, will enable businesses to take credit card payments without the need for a merchant terminal or additional device.
The latest upgrade continues NAB's ongoing transformation to improve the experience for our customers – both for business and consumers.
David Gall, Executive General Manager, Working Capital Services, NAB said we’re providing an easier and more convenient alternative for our customers to receive payments and improve their cashflow.
“Small businesses are time poor, and cash flow is critical. They need solutions to allow them to take payments from customers in an efficient and timely manner.
“Whether that be a personal trainer who spends the majority of their time outside an office, or sole traders who are travelling between customers without access to a payment terminal and in the past could only accept cash or cheques or write out an invoice for their service,” Mr Gall said.
Accepting payments via a mobile phone reduces the administrative burden of invoice payments via cash and cheque and allows true mobility for those businesses who are out on the road. Transactions occur in real time so the risk of fraud is also significantly reduced as the payment outcome can be seen on the spot.
The new functionality is available now to all existing NAB Transact customers at no extra cost through all smartphones or tablets. No software or app is required as NAB Transact is accessed from the device’s web browser.
The new solution for small businesses follows recent upgrades to NAB mobile banking apps for iPhone and Android devices that enable customers to do more on their mobile, quickly and safely.
Mobile Banking is NAB’s fastest growing channel with 300 per cent growth in the last year, meaning one in three NAB internet banking logins now done on a mobile device.
NAB has led the industry in making mobile internet banking available on any smartphone or tablet.
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