CBA reports surge in digital wallet transactions

Commonwealth Bank of Australia has recorded a surge in mobile payment transactions at the POS, as consumers reach for their phones to avoid touching PIN pads during the Coronavirus outbreak. Latest analysis from the bank, which draws on Visa and Mastercard data, has found digital wallet users in Australia spent $1 billion in a record number of transactions in March 2020, a 17% increase from the same month last year. Overall there were 36 million digital wallet transactions made in March - comprising spending from CBA Tap & Pay, Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay devices - up from 33 million in February and higher than the previous monthly record of 34 million in December 2019.