CommBank 'to update credit card transaction service'

The Commonwealth Bank is set to improve its Netbank service during a downtime.

The Commonwealth Bank are set to update their credit card transactions on its online service Netbank during a downtime.

The system will be shutdown at midnight tonight (August 27th) until 08:00 local time on Saturday, ZDNet reports.

Credit card purchases can take around three days to appear on Netbank, but when the amendments are implemented the consumers should be able to see when their card was charged and at which location.

Other changes include enabling Google searches to be used for Aussie credit transactions and the online identification service is also set to be extended.

But the organisation recently revealed in its Business Sales Indicator (BSI) - which tracks the value of debit and credit card transactions processed through its point-of-sale terminals - that spending across the month of July was flat.

The BSI slowed to its largest annual decline in six years, while executive general manager of corporate financial services at the bank Symon Brewis-Weston noted a turning point for retail conditions.

By Joe Letts