Commonwealth Bank has launched an innovative, new EFTPOS tablet which is set to transform how businesses interact with their customers and disrupt the payments space. Commonwealth Bank’s Albert has been engineered to help businesses improve and tailor their customer offering and gain unique business insights through a more mobile, user-friendly, secure and customizable point-of-sale device. As Commonwealth Bank’s flagship merchant device, Albert will operate on the open-source platform, Pi Business Network.
Commonwealth Bank is currently working with leading Australian businesses including David Jones and Amalgamated Holdings Limited, alongside Michelin-starred dim sum restaurant, Tim Ho Wan and one of Australia’s leading hospitality providers, The Keystone Group. Foot Locker, Mogas Regional and EasyFuel are currently building customized apps for Albert.
With more than 90% of Australians saying their shopping experience would be improved if the sales process was tailored around their needs (according to Lost Sales research), the customizable nature of Albert means the EFTPOS tablet will complement a wide range of businesses including the hospitality and retail sectors.
In fact, 'Lost Sales research’ by Commonwealth Bank has revealed that 73% of Australians have abandoned a purchase in a retail store due to the length of the queue and most people (55%) leave a store if they have to wait more than five minutes. Worth noting is that the average price of an abandoned sale is $94, meaning Australian retailers are potentially losing out on sales worth $1.2 billion a year.
Albert can help businesses recognize their most loyal patrons, let customers split the bill with ease, and even put an end to lengthy queues at the counter by enabling staff to accept payments at the table, on the shop floor, or even offsite at an event or function. Commonwealth Bank has engineered Albert in partnership with global IT and design leaders Wincor Nixdorf and IDEO to create a portable and user-friendly tablet while still meeting the highest security standards, including supporting EMV chip and PIN transactions, and the Payments Card Industry (PCI) Data Security Standard (DSS).
Key features include the option to e-mail receipts and invoices, split the bill up to 10 ways, open a customer account that can be paid later, record and track daily, weekly and yearly payments, as well as collecting useful business analytics and insights. The Albert EFTPOS tablet comes with both Wi-Fi and 3G built-in for ‘always-on’ connectivity and pre-loaded with the payment app and other CommBank app functions, including Split Bill, Cash Counter, Daily IQ, Open Tab and Community Giver.