Optus has launched new payment accessories which will allow owners of older iPhones in Australia to use their devices for contactless payments.
The Cash by Optus near-field communication payments platform is being brought to older iPhones through the new Payment Sticker, which can be adhered onto the back of the smartphone to make it compatible with NFC Visa PayWave.
In addition to the Payment Sticker, Optus has also unveiled the Optus Band, which can be linked to the Cash by Optus smartphone app and then worn by users to be able pay for their purchases. The wearable smartband will allow for contactless payments even without the presence of the user's smartphone.
According to the Cash by Optus page of the telecommunications company, the payments platform can only be used for transactions of up to $100. This is to safeguard the user from security risks, as the payments service does not require a PIN to be used.
"It has always been our aim to bring the ease and convenience of Cash by Optus to as many customers as possible, across a range of smartphones and these new payment accessories enable us to do just that," said Optus Product and Marketing acting managing director Ben White.
The Payment Sticker and the Optus Band are compatible with iPhones running iOS 8 or later, along with Android smartphone powered by Android 4.0 or later. The accessories are notable because they would allow smartphones constructed without compatibility for NFC technology, such as the iPhone 5 and the iPhone 5s, to be used for contactless payments.
The accessories also circumvent the limitations of the iPhone 6, iPhone 6 Plus, iPhone 6s and iPhone 6s Plus, which are restricted to only be used with the Apple Pay.
Apple Pay was launched in November of last year in Australia, but only American Express has so far signed on as a financial institution partner for the country. The reception of the service pales in comparison to that for Google's version of the platform, with the company announcing in December 2015 that it will be partnering with several banks such as Westpac, ANZ and Macquarie Bank to launch Android Pay this year.
In addition to the Payment Sticker and Optus Band, eligible Optus subscribers also have the option of ordering a Cash by Optus SIM card, if they are using an NFC-ready Android smartphone.