Optus Offers New Mobile Payment Options

Optus have announce you can Visa payWave with your mobile. If you have an Optus mobile service, a compatible mobile and the app, you can get Cash by Optus. Use the Cash by Optus™ app with one of our payment accessories or specially designed SIMs to pay for purchases with just the wave of your hand. Just link the app to your bank account, and you can make payments up to $100 at a time wherever you see Visa payWave.

They are offering a range of payment accessories. A payment accessory is an Optus issued NFC-enabled device which can be used to enable you to make contactless payments. Payment accessories can be in the form of a sticker, band or other device that Optus may issue. You can use it to make contactless payments just as usual. Simply tap the payment accessory to complete the transaction. Cash by Optus NFC SIM and Payment Accessories remain property of Optus.

Once you have download the Cash by Optus™ app and complete the registration process; you can then load up to $500, get access to real-time information and manage payment settings. As it doesn’t come with a PIN Cash by Optus™ can’t be used for contactless transactions $100 and over or for transactions that require a PIN.

It can take 1 to 2 business days for the link deposit, “CashByOptus LINK” to arrive in your bank account. You can only link to Australian banks and most other Australian non-bank financial institutions. It will not work with foreign banks and accounts that don’t allow direct debit payments.

You can access your transaction history electronically via the Cash by Optus app. Your transaction history will be available via the app until the facility is closed
But there is no print feature within the app. They suggest But you could take a screenshot and email it to yourself and print it. As the Cash by Optus™ facility is designed for electronic use, you have agreed that notices, transaction information and communications related to the facility will be available electronically.

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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