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 | Tags 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.



comments powered by Disqus




Trending now »

Hot discussions in our forums right now:

Static IP uptimes and reliability on BigPipe?
Created by RobBB, last reply by RunningMan on 21-Feb-2017 18:15 (33 replies)
Pages... 2 3


The President Of The USA: Donald Trump
Created by TimA, last reply by gzt on 21-Feb-2017 14:59 (3177 replies)
Pages... 210 211 212


geekzone ads are out of control
Created by 1101, last reply by RunningMan on 21-Feb-2017 18:12 (28 replies)
Pages... 2


Silly Cricket Scoring
Created by tdgeek, last reply by tdgeek on 21-Feb-2017 07:02 (45 replies)
Pages... 2 3


Android (FB) Messenger App Bugs/Issues
Created by TimA, last reply by sidefx on 21-Feb-2017 15:34 (18 replies)
Pages... 2


Setting up our own EFTPOS (2nd hand terminal)
Created by BlackGlove, last reply by Lias on 21-Feb-2017 16:25 (17 replies)
Pages... 2


Shameful politics, shameless politicians
Created by Rikkitic, last reply by MikeAqua on 20-Feb-2017 14:12 (106 replies)
Pages... 6 7 8


Are the outside of the police station not allowed to be photographed?
Created by rayonline, last reply by blackjack17 on 21-Feb-2017 16:39 (29 replies)
Pages... 2