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:

Single use plastic bags to be banned.
Created by Lastman, last reply by da5id on 18-Aug-2018 15:38 (230 replies)
Pages... 14 15 16


Importing Powerbanks - any restrictions? advice?
Created by dias87, last reply by nzkiwiman on 16-Aug-2018 17:17 (38 replies)
Pages... 2 3


Stuff comments...
Created by amiga500, last reply by DarthKermit on 18-Aug-2018 18:27 (27 replies)
Pages... 2


Vodafone mobile coverage / signal strength Wellington
Created by timmmay, last reply by timmmay on 16-Aug-2018 20:09 (10 replies)

Wireless Nation unlimited fixed 4G
Created by DarkShadow, last reply by quickymart on 18-Aug-2018 08:28 (18 replies)
Pages... 2


FS: iPad Pro 9.7", 128GB, Smart Keyboard + Case, Apple Pencil
Created by gehenna, last reply by Geektastic on 15-Aug-2018 22:41 (9 replies)

Discussion on NZ Top 40 music
Created by GeoffisPure, last reply by Kiwifruta on 17-Aug-2018 20:14 (17 replies)
Pages... 2


Advice needed for building a streaming and recording PC
Created by CrashAndBurn, last reply by Coil on 16-Aug-2018 09:49 (16 replies)
Pages... 2