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:

Accidental roaming data blow-out on 2Degrees - anything we can do?
Created by Item, last reply by dejadeadnz on 22-Oct-2018 21:14 (32 replies)
Pages... 2 3


Credit score - not as good as I'd thought
Created by kingdragonfly, last reply by marej on 22-Oct-2018 20:17 (18 replies)
Pages... 2


Google WiFi support?
Created by GFoley83, last reply by GFoley83 on 22-Oct-2018 20:55 (14 replies)

VDSL outage unresolved for a week. Very frustrating.
Created by josephhinvest, last reply by hio77 on 22-Oct-2018 20:30 (14 replies)

Transferring domain in to MetaName
Created by tardtasticx, last reply by timbee on 19-Oct-2018 23:02 (13 replies)

IPCC climate report
Created by Rikkitic, last reply by SaltyNZ on 19-Oct-2018 18:08 (98 replies)
Pages... 5 6 7


Referral
Created by timbee, last reply by k1w1k1d on 22-Oct-2018 20:38 (11 replies)

Official driver just killed pc
Created by Rikkitic, last reply by Rikkitic on 19-Oct-2018 20:13 (10 replies)