Commonwealth Bank has poached MasterCard's New Zealand country manager, Albert Naffah, to head its American operation. Working out of New York, Naffah will be CBA's chief operating officer for the Americas. His career at MasterCard includes a long stint in Sydney, where he was vice president for business development, strategy and corporate affairs. The supply of commercial loans fell 10.5 per cent in July, after a rise of 10.9 per cent in June on a seasonally adjusted basis, the Australian Bureau of Statistics says. The trend series for the value of total commercial finance commitments rose 2.1 per cent. National Australia Bank's BNZ subsidiary has launched its own version of 'Square' in New Zealand to allow small business customers take credit and debt card payments via their smart phones. The device called PayClip can be plugged into most Android and iPhones and will allow payment via Mastercard and Visa cards. The technology developed by Mint Wireless allows chip and PIN transactions. The device will be available next month. ANZ NZ has appointed its current business banking managing director, Fred Ohlsson, to the joint role of retail and business banking managing director. The McKinsey alumni has been business banking MD since December 2010 and joined ANZ in Australia in 2001. He replaces Kerri Thompson, who was appointed last week as MD for bancassurance and customer experience with ANZ Global Wealth in Sydney.