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:

Orcon Down once more
Created by ronw, last reply by hio77 on 20-Feb-2018 22:11 (46 replies)
Pages... 2 3 4


Phone bootlooped within warranty, should I deal with LG or NoelLeeming?
Created by Taubin, last reply by lxsw20 on 23-Feb-2018 23:55 (21 replies)
Pages... 2


NZ Herald to introduce a paywall this year.
Created by Aredwood, last reply by amiga500 on 23-Feb-2018 14:25 (40 replies)
Pages... 2 3


Jury Duty
Created by networkn, last reply by dejadeadnz on 20-Feb-2018 19:53 (166 replies)
Pages... 10 11 12


Skype is horrible. What next?
Created by turb, last reply by turb on 23-Feb-2018 17:05 (17 replies)
Pages... 2


Just Left SKY, Now Very Confused... How To Get TV??
Created by BLazeD, last reply by Brunzy on 23-Feb-2018 15:54 (35 replies)
Pages... 2 3


Disappearing for quite a while
Created by MikeB4, last reply by tdgeek on 22-Feb-2018 20:20 (31 replies)
Pages... 2 3


ANZ NZ drops other bank ATM fees
Created by antoniosk, last reply by Stu1 on 22-Feb-2018 08:33 (57 replies)
Pages... 2 3 4