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Westpac launches Mobile PayWay Pilot Program, the first app of its kind in Australian banking


17 July 2012

1 in 5 Australians call for more smartphone applications to support small business.

Westpac has today announced a pilot of a new “standalone” (meaning a native) iPhone application - ‘Westpac Mobile PayWay’ - becoming the first of the big four to provide a mobile application of its kind that allows small business merchants to process MasterCard® and Visa card payments in real time.

Westpac currently offers a PayWay terminal through a browser based solution for those who prefer this option. This pilot of Mobile PayWay adds to the range of Westpac mobile products and services to help time poor small businesses do their banking on the go.

This announcement coincides with the release of new research from Westpac, which shows that 1 in 5 Australians want more banking applications on their smartphones to support small business1.

The importance of mobile applications such as PayWay to small business is further demonstrated by the 70% of respondents who stated that they rely heavily on technology to run their business2.

Westpac’s Mobile PayWay was created to service the growing demand from small business customers that require access to payment facilities on the go which is both flexible and convenient. The application is currently being trialled by a group of small business owners.

Axel Boye-Moller, who is responsible for Westpac's Consumer Lending and Payments products, said, “Research shows that there is a demand amongst Australian small businesses for mobile technology that supports their day-to-day operations. Westpac is committed to providing banking that is truly ‘on the go’ – we want everyday banking to be just as flexible as small businesses have to be.

“With cash-flow often the major cause for concern for small businesses, Westpac’s Mobile PayWay will allow small operators the ability to have payments for jobs processed on the go, giving not only peace of mind but the ability to keep track of their payments simply via their iPhone.

“Westpac’s Mobile PayWay is just one of the mobile products in development for our small business customers.

Mobile PayWay will allow small businesses to:

  • Receive immediate authorisation of payments from a small business customer’s MasterCard or Visa card by entering the details into the merchant’s iPhone running iOS 4 or above 
  • View their last 20 transactions3
  • Refund any of their last 20 transactions4
  • Send an email receipt to their customer immediately, entered either manually or from the merchant’s iPhone contacts.

Mobile PayWay has been designed to meet Westpac’s credit card processing standards. It requires a unique logon name and password, and does not store cardholder details on the app or the iPhone.

Find out more information on Mobile PayWay.

1. Westpac Small Business and Technology Survey, powered by CoreData, sampled 1,100 Australians (450 business owners, 650 non-business owners) and was conducted March 30th 2012 – April 15th 2012.
2. Source as per above.
3. Only transactions initiated by the iPhone. Historical transactions can be refunded via the PayWay website.
4. As per above.

MasterCard® is a registered trademark of MasterCard International Incorporated.
iPhone is a trademark of Apple Inc., registered in the U.S. and other countries.
Conditions, fees and charges apply. This information is general only and does not take your circumstances into account. Read the Mobile PayWay Terms and Conditions before deciding whether this product is right for you. Applications for Mobile PayWay are subject to the bank’s approval criteria. Copyright 2012 Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit license 233714.