Retail in Asia

In Trends

ANZ Bank to introduce ‘queue-busting’ device in November

ANZ Bank is trying to win over retailers, restaurants and other merchants with a new device that allows retail staff to accept digital payments while they are with customers on the shop floor, rather than at the till.

As the bank seeks to put more emphasis on technology, ANZ will in November introduce a mobile device slightly bigger than a smart phone that can process credit card transactions and run a range of applications for merchants.

It claims the device can be used to reduce the length of queues at cash registers, or for easier payment of a restaurant bill by credit or debit card.

ANZ views the product, which it calls the “Blade”, as a direct competitor to the Commonwealth Bank’s bulkier next-generation point of sale device, the “Albert” terminal.

The battle between banks to develop ever more advanced versions of the EFTPOS terminal is a sign of competition to retain their central position in the payments system, which puts them at the centre of customers’ financial affairs.

ANZ says its new device will allow businesses to make digital payments more quickly, as it is small enough to be operated with one hand. Apple stores use a similar approach, as their staff are armed with devices that can also scan barcodes and make sales.

As well as accepting payments and scanning barcodes, ANZ’s device can incorporate externally developed apps, which could include a digital menu in a restaurant, or a customer loyalty scheme. The device can also take photos, and has a GPS system.