industry worth $ 3 billion . This NFC technology offers users all of the benefits they enjoy with contactless cards – including convenience , ease of use , security and speed of payment , as well as the opportunity to more closely integrate their mobile phone / device into their day-to-day . For instance , Commonwealth Bank customers are now able to withdraw cash from ATMs without even using a card . Instead , users log on to the bank ’ s mobile app , select the amount they wish to withdraw and receive a code to enter into the ATM as well as a PIN sent via text to their phone .
In Westpac ’ s most recent trial , customers scanned their fingerprint to log onto its banking app and St . George recently became the country ’ s first bank to tap into the wearable technology trend , with a new banking app designed for smartwatches . All
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