Bendigo Bank, its telecommunications subsidiary Community Telco Australia and Samsung Electronics Australia today launched a new retail point-of-sale mobile payment solution called redy, according to a press release.

The system is available to all Australians using a compatible smartphone and can be downloaded from Google Play or the Apple App Store, according to the press release. Users can pay with the app at participating merchants when they use their mobile device to scan a unique QR code displayed at point of sale via a Samsung tablet.

Bendigo Bank Head of Customer Led Connections Andrew Cairns said in a statement redy is unique as it not only rewards consumers and benefits businesses, it also raises money to support community fundraising initiatives.

“The face of banking is changing, with technology quickly revolutionizing the way we use and move our money,” he said. “Our bank recognizes this, and we've developed our own solution that delivers mobile payments and a lot more.”

Cairns highlighted the redy tagline "better than a card, bigger than a payment system and smarter than a fundraiser" in the statement.

“For consumers, redy is an app they can download and link to their Bendigo Bank account or any Visa or Mastercard account,” he said. “It offers a secure, easy and fast way to pay that rewards the consumer, what they care about and the places where they like to shop.

“As they shop they earn creds, and they can then use their creds to make a donation to a charity or cause of their choice. People can choose to support large national charities or they can identify causes within their own community to assist. It's the digital version of dropping some cash into a collection tin.”

Cairns said redy has already had two successful market trials in two Victorian communities. The rollout is now going nationwide, with further redy app updates planned for the coming months.

“Today redy is being promoted to shoppers, businesses and causes in Melbourne, Adelaide, Bendigo, Geelong, South West Queensland, Tasmania and in Victoria's Yarra Ranges,” Cairns said in the statement. “Many more people and traders will join us in the coming months as we build a national redy network.”

Watch the video below to see how redy works: