Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Telecom New Zealand to launch mPayment solutions
Posted on 2-Feb-2004 17:47 | Filed under: News


Telecom New Zealand to launch mPayment solutions
ASB Bank and Telecom are launching a mobile payment service that, in the future, will enable consumers to pay for goods and services from their bank account using their mobile phone.

The service is generically known as Mobile Payment or mPayment in the industry. The mPayment solution joins the customerís mobile phone directly with their bank account, unlike micro-payment solutions which simply charge costs to the customerís mobile phone account. Emerging examples of micro-payment solutions worldwide include vending machine purchases and parking tickets.

Initially, the service will enable consumers with a Telecom Prepaid mobile phone and an ASB Bank account to top-up their phone credit from their bank account via SMS. In the future, consumers will be able to purchase any number of goods and services in situations where they are not in front of the merchant or donít have access to traditional payment methods of cash, EFTPOS (an electronic funds transfer service) or credit card.

For Telecom Prepaid mobile customers, the new mPayment solution will provide them with a further alternative to topping up their phone via scratch cards, credit cards, or ATM.

According to Telecom, this mPayment solution delivers a high level of security as it requires an alphanumeric password for authentication of the userís identity. In addition, by providing payment direct from the userís bank account, mPayment means the spending power of users is not limited to the amount of credit available on their phone account.

ASB Bank and Telecomís Advanced Solutions group completed technical trials over the Christmas period, and plan to establish the mPayment capability and commercially launch the Telecom Prepaid top-up service to customers in late March 2004.








Trending now »

Hot discussions in our forums right now:

New Freeview SmartVU streaming device: Chromecast, 4K HDR, Android TV
Created by freitasm, last reply by blingjug on 10-Dec-2018 22:55 (38 replies)
Pages... 2 3


Advice on graphics card for my 'new' machine please
Created by Tomahawk66, last reply by Tzoi on 10-Dec-2018 17:32 (39 replies)
Pages... 2 3


Weird 19th century question
Created by Rikkitic, last reply by BarTender on 10-Dec-2018 12:10 (33 replies)
Pages... 2 3


Geekzone giveaway: Crucial P1 NVMe SSD (m2)
Created by freitasm, last reply by GV27 on 8-Dec-2018 14:07 (213 replies)
Pages... 13 14 15


FS: Massive clean out, help fund landcruiserguy's Surface Go
Created by landcruiserguy, last reply by landcruiserguy on 10-Dec-2018 22:25 (20 replies)
Pages... 2


Vodafone wireless router, 2.4g and 5g
Created by David321, last reply by Hammerer on 9-Dec-2018 20:54 (10 replies)

Deleting mail
Created by Geektastic, last reply by IcI on 10-Dec-2018 22:15 (9 replies)

New Vodafone TV sux
Created by Horseychick, last reply by Spyware on 10-Dec-2018 19:54 (9 replies)