National Australia Bank App Streamlines P2P Process (Sept. 30, 2013)
National Australia Bank has launched NAB Flik, a P2P payments app that enables customers to send and receive money using a mobile phone number, email or Facebook account. After consumers download the app to their iPhone or Android device and complete a setup process, they can begin sending and receiving payments without having to enter long account numbers, according to the company. NAB Flik has a daily transaction limit and is designed for smaller transactions between friends, such as paying for dinner, coffee, movie tickets or drinks. The launch follows an internal trial of 1,000 participants earlier this year.
“NAB Flik offers customers another way to choose how and when they do their banking and [it] removes the need for any awkward conversations about who owes money,” said Antony Cahill, NAB executive general manager, digital and direct banking. “Customers will have more options for sending money to their friends because they can use QR codes, Facebook, email, mobile number or [by tapping NFC-enabled devices together] to send and receive payments.”
Competition heated up across the Pacific Ocean this summer when Square Inc. and Google announced new P2P services within two weeks of each other. What’s more, a report released last May by payments technology provider FIS indicated that, among P2P users ages 18 to 33, mobile phones were nearly as popular for making transfers as laptops and desktop computers.
