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iPhone is no longer just a beacon of communication. Now its a mobile wallet.Commonwealth Bank has just released CommBank app for iOS, meaning you can make contactless payments with your  iPhone. 

The CommBank app is available to download from the App Store, and has been on Android and Windows 8 platforms since December. 
The app turns the iPhone into a mobile wallet, making MasterCard PayPass payments for items up to $100, by a simple tap of the phone. 
All you do is order a CommBank PayTag via the CommBank app for $2.99. Then stick it onto the back of your mobile, and away you go.  
And if you think this sounds a bit dodgy, all CommBank app transactions are backed by a 100% Security Guarantee. 
You can also conduct banking transactions via the app. 
“From today, all of CommBank’s mobile customers have the opportunity to embrace the mobile wallet revolution and experience next generation mobile banking and payments enhancements,” says Lisa Frazier, Executive General Manager Digital Channels, Commonwealth Bank.    
“Our mobile customers can now leave their wallet at home and use their phone to pay for everyday items from a morning coffee, to groceries; while our mobile banking innovations make checking a balance, or paying a bill or a friend, simpler and faster.”
300,000 have updated to the new app in the last few weeks.  
Other enhancements to the CommBank app, including simple swipe balance checks, BPAY QR code payments and mate payments using a mobile number, email or Facebook contact.
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