The Commonwealth Bank of Australia is launching a Google Android version of its social payment app, CommBank Kaching, and updating the existing service for iPhone (view press release). CommBank Kaching allows users to bank on the go and pay friends using their mobile, email or Facebook contacts. The iPhone update allows users to exchange money or payments by tapping two phones together via a feature called Bump payments. There are plans to launch CommBank Kaching for Facebook later this year, enabling customers to do their banking without leaving Facebook.

“We’re making banking simpler and more convenient. As promised, today we gave Android users access to Kaching which will particularly appeal to the youth market who are using Android more and more,” said Andy Lark, chief marketing and online officer of Commonwealth Bank.

There have been approximately 350,000 downloads and USD1 billion in transfers since the app was launched.