Powered by payments tech partner Quest, NAB Easy Tap is being pitched to small businesses and people with a "side hustle", promising no minimum purchase amount and no upfront costs.

NAB group executive, business and private banking, Andrew Irvine, says: "This is perfect for Australians with a side hustle - think your local farmers market, coffee carts and mobile hairdressers who don’t want to lug around a payment terminal or dongle and who are looking for instant insight into how their business is performing."

Earlier this year, rival Westpac began offering small businesses similar technology for accepting contactless payments via Android phones.