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:

iPhone 8/iPhone X, impressions?
Created by surfisup1000, last reply by kharris on 26-Sep-2017 17:20 (444 replies)
Pages... 28 29 30


Car pulling left - even after alignment
Created by Paul1977, last reply by Paul1977 on 26-Sep-2017 15:20 (47 replies)
Pages... 2 3 4


Driving an automatic - do you use one foot or both?
Created by geekIT, last reply by Aredwood on 25-Sep-2017 22:48 (143 replies)
Pages... 8 9 10


Auckland Airport fuel supply obliterated by digger
Created by Batman, last reply by kryptonjohn on 26-Sep-2017 18:37 (225 replies)
Pages... 13 14 15


Electrical standards question
Created by delroynitz, last reply by gregmcc on 26-Sep-2017 16:15 (15 replies)

Could a production electric car reach 500 KPH anytime soon?
Created by kingdragonfly, last reply by kotuku4 on 26-Sep-2017 16:32 (27 replies)
Pages... 2


vodafone shutting down email?
Created by FatFurryGuy, last reply by Rickles on 26-Sep-2017 15:31 (301 replies)
Pages... 19 20 21


Spam Text
Created by rendezvous, last reply by hio77 on 25-Sep-2017 22:00 (24 replies)
Pages... 2