Payment Methods

Optus Optimizes mPayment Options With Payment Stickers, Bands

Optus, an Australian contactless payments service provider, is now offering payment stickers and bands as part of its strategy to find a user base beyond Android phones.

The new offering, called “Cash by Optus,” relies on near-field communication (NFC) and Visa’s payWave technology to let its users turn compatible smartphones into paying devices. Currently, the service allows its users to make contactless purchases under $100 and offers prepaid and postpaid billing solutions.

“Cash by Optus Payment Accessories is the natural next step for Optus since we were the first Australian telco to introduce a mobile payment solution to the market in 2014. Backed by two trusted names, Visa and Heritage Bank, Optus is continuing to look at ways to expand Cash by Optus and bring innovative products and services to our customers,” said Ben White, acting managing director of product and marketing at Optus.

The wristband, the company said, has been exclusively designed to help facilitate payments for users on the run; on the other hand, the Cash by Optus sticker targets the non-Android user base looking to pay for products through contactless payments.

“The sticker attaches to the back of the device, linking directly to the Cash by Optus app and letting you use your smartphone to pay for goods and services instead of using cash or plastic debit and credit cards,” the company said.

The company has also launched a SIM card-based solution called “Cash by Optus SIM” that allows users to pay through their NFC-compatible Android device without a payment accessory.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.