ANZ has updated its FastPay app, extending the ability of merchants to process smartphone payments to EFTPOS.

ANZ FastPay already allows businesses to take Visa and MasterCard credit and debit card payments using smartphones.

A new card reader is also being introduced meaning the merchant can swipe or insert their customers' cards to process transactions even faster.

The upgrade to ANZ's FastPay app comes after ANZ last year became the first New Zealand bank with mobile solutions for all types of customers, from individuals and small businesses to large institutional clients.

ANZ managing director, retail and business banking, Fred Ohlsson, says the FastPay improvements are the result of feedback from customers on how the app could be made even better.

“ANZ FastPay has proven a highly popular solution for a wide range of businesses that operate on the go, from gardeners and plumbers to personal trainers,” he says. “It makes payments quicker and easier so they can spend their time making money, not chasing payments.

“Our new app means entering payments is now even easier and faster, further boosting businesses' ability to manage their all-important cash flow,” Ohlsson says. “This innovation is another example of how we're listening to customers and delivering solutions that meet their changing needs.

The update to ANZ FastPay follows a number of other successful ANZ mobile offerings.

In April 2011 the ANZ goMoney mobile banking app was launched for retail and small business customers in New Zealand and within hours became the No 1 most popular finance app on iTunes in New Zealand. “ANZ continues to update goMoney regularly with new, market leading features,” Ohlsson adds.

He says ANZ will shortly release a mobile wallet within ANZ goMoney. The goMoney Wallet will enable customers to make contactless payments at Point of Sale with just one tap of their Android smart phones.

Last year ANZ launched ANZ Direct Mobile, a tailored banking solution for medium sized or more complex businesses.

ANZ also offers ANZ Transactive Mobile, a solution enabling institutional and larger clients to remotely monitor real-time balances on their New Zealand and Australian accounts, view transactions, approve and release payments and obtain live FX rates.