ANZ has launched an iPhone app that will allow businesses to transfer money to suppliers or staff using only a mobile phone number.
The new GoMoney feature is pegged specifically to the iPhone and is available free of charge via iTunes.
Users will be able to use the app using a four-digit pin, rather than a username and password.
Payments up to $1,000 can be transferred to anyone with a mobile number and an Australian bank account.
Recipients not registered to GoMoney will get an SMS with a code that will allow them to collect the funds via an ANZ secure site. ANZ said that it was looking at rolling the app out onto other platforms and would look at adding the ability to pay bills in the future.
ANZ said it was the first bank to offer a person-to-person payment option via an app. The bank claimed that it has received positive reviews from testers.
ANZ is one of the last major banks to launch an app to the general public, although its ePos app has been in an extended trial phase since March. The ePos app is aimed specifically at small businesses and is currently being tested by several firms as a substitute for eftpos facilities. However, no official launch date for the app has been set.
It’s hoped that free apps launched by banks will provide ease-of-use and help reduce overheads for small businesses aiming to make certain payments.
ANZ Group Managing Director Strategy, M&A, Marketing & Innovation, Joyce Phillips said: “ANZ GoMoney is a result of a renewed focus on innovation to help us continue delivering convenient and simple solutions to our customers.”
“People are continuing to change and evolve the way they interact with their bank and as a result we also have to think differently about our business and about the customer experience we deliver. ANZ GoMoney is one example of how we can use innovation to deliver a new a customer experience and get ahead of the game.”
