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:

New Zealand housing market (particularly Auckland)
Created by quickymart, last reply by tdgeek on 16-Sep-2018 19:34 (264 replies)
Pages... 16 17 18


SWMBO
Created by xpd, last reply by Geektastic on 18-Sep-2018 16:52 (14 replies)

why there is so much lag within the same company.
Created by RayZhou, last reply by RayZhou on 17-Sep-2018 20:07 (27 replies)
Pages... 2


The Apple Watch Series 4, iPhone XS, XS Max and XR discussion and owners thread
Created by JEDENZED, last reply by michaelmurfy on 19-Sep-2018 11:02 (227 replies)
Pages... 14 15 16


is VDSL speed a good indicator of what it might be when switch to fibre?
Created by iamsammajor, last reply by SpartanVXL on 19-Sep-2018 10:15 (12 replies)

Signal strength of -104 to -120 dBm on Vodafone at home, will that be enough to receive a text?
Created by Tomahawk66, last reply by Tomahawk66 on 16-Sep-2018 12:51 (24 replies)
Pages... 2


Which brand of 91 octane do you use? Additives put into the fuel by the petrol retailers if any?
Created by amiga500, last reply by Goosey on 15-Sep-2018 18:29 (63 replies)
Pages... 3 4 5


Best place to finance a flagship through? (Sam Note 9)
Created by TeaLeaf, last reply by landcruiserguy on 17-Sep-2018 17:35 (11 replies)