Though as I understand from the source this also acts as an emulator, so if you scan your phone it may replay those card details, worth keeping in mind.
I'd love this. My bank wants me to pay $2.99 for a sticker to go on the back of my phone (to do contactless purchases) while supporting Galaxy S* phones natively...
Sounds to me like his bank is the Commonwealth Bank of Australia(1), so Google Wallet is a non-starter. Coin is interesting, but the payments landscape in .au is rapidly moving away from card swipes to Paywave/Paypass. I've seen quite a few places that offer Cash or Tap, no swipe (I presume because of the fee structure).
Commonwealth Bank charge $2.99 a year regardless of what you want to do. To use their Android app, they also bill you that to have the functionality turned on.
The annual fee is not applicable in case of the PayTag (https://www.commbank.com.au/personal/can/can-tap.html). Also, can you refer me to the doc that mentions the extra cost of using the Android app for that purpose?