The Commonwealth Bank has launched what it claims is the world's smallest, fully-integrated mobile Eftpos terminal.
MobileComm lets businesses accept card payment almost anywhere using the GSM digital mobile phone network.
It allows instant approval of credit and debit card transactions and the bank will initially focus on installing the technology in high transaction mobile businesses such as retailing.
MobileComm has a built-in thermal printer, magnetic stripe card reader, rechargeable internal battery and can be upgraded for smartcards. The device supports the newly released Ericsson T39, which is both GSM and GPRS capable.
The product has been launched in conjunction with Keycorp Ltd as part of the bank's plans in the wireless payment and mobile commerce market.