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CBA partners with Mastercard, Samsung for new mobile payments tech

Commonwealth Bank of Australia signed an agreement with Mastercard Inc. and Samsung Electronics Australia to allow Australian small businesses to accept payments from a contactless card or mobile wallet using just their phones.

The parties will bring Mobeewave's SoftPOS technology to Australia, which will accept payments of less than A$100 from a contactless card or mobile wallet, the bank said in a release. Mobeewave will provide a white label solution to CBA, allowing the bank's customers to accept Mastercard transactions on Samsung flagship devices starting from the second half of 2018.