A new app will enable small business customers to accept on the spot payments, create estimates and invoices instantly, and manage their cash flow and business operations.

User of the Commonwealth Bank app require it to be paired with new Eftpos terminals known as Leo and Emmy. Emmy is designed for smaller mobile businesses, with lower card transaction volumes, while Leo is equipped with a barcode reader, for medium to large businesses.

Lisa Frazier, executive GM digital channels, Commonwealth Bank, said the company has responded to small business customer demands for faster, more efficient, and convenient payment options.

“We have taken the best parts of our existing payment apps and evolved them to create the CommBank Small Business app,” said Frazier.

The CommBank Small Business app is available as part of a Simple Merchant plan on iPhone and Android devices.