Bendigo Bank has released a new payment app that allows customers to pay for purchases using instantly generated QR codes, it has been announced.
The technology, called redy, has been made available to all retail customers, as well as merchants with a Bendigo bank account. The app is downloaded to the customer’s smartphone, liked to their bank account or to any Visa or Mastercard, and then used to generates a unique QR code that sellers then scan to collect the payment.
According to Andrew Cairns, Head of Customer-Led Connections at Bendigo Bank, the systems rewards consumers whilst benefitting local businesses and community fundraising efforts. “The face of banking is changing, with technology quickly revolutionising the way we use and move our money,” he said. “Our bank recognises this and we’ve developed our own solution that delivers mobile payments and a lot more.”
Each time customers use the secure, encrypted payment method, they earn “creds” that can be donated, through the app, to a charity their choice – the digital equivalent of putting coins in a collection tin, says Cairns. One of the first non-profits to featured on redy is Righteous Pups, a local autism charity. Joanne Baker, the organisation’s Managing Director, said that the app has the potential to revolutionise how the charity collects donations.
Whitepapers
Related reading
5 ways blockchain can change the cross-border payments landscape
Cross-border payments is a changing sector of the industry, driven by customers demanding little to no friction and encountering multiple steps, intermediaries ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
JP Morgan blockchain network showcases banks’ DLT progress
JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by ... read more
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more
