18 July 2012 7:06am

Commonwealth Bank has developed what it claims is the world’s first touch-screen encrypted EMV pin pad. The device, which will serve as the bank’s new point of sale terminal, was launched yesterday, with plans to put it into service next year.

Albert, as the terminal is known, is part of a new point of sale platform, Pi, which will offer merchants a range of business apps in addition to the re-designed terminal.

Some apps have already been developed by the bank, while third parties are working on others. These include inventory management, loyalty fulfilment, customer...