Westpac New Zealand is set to launch a new mobile banking app that will use augmented reality to enable its customers to view account information on their smartphone screen through the device's camera, according to multiple reports.

Users place their payment cards under the phone to activate the camera. Then, the app shows 3D images on the screen that display the card's account balance, transaction history, payments alerts and other important information. Customers can even use the app to scan their environment to find Westpac branches and ATMs.

Westpac plans to release the iOS app in September. 

Watch the video below to see how the app works: