30 June 2015

New Zealand's ASB Bank and Telecom to launch m-payments service

03 February 2004  |  4707 views  |  0

New Zealand's ASB Bank is teaming with mobile phone operator Telecom to enable customers to pay for purchases from their bank account using their mobile hand sets.

Initially, the service will enable customers to top-up their phone credit from their bank account via SMS text messages. The service will be extended to include other purchases in the future.

The payments system was developed by New Zealand firm M-Com and requires an alphanumeric password for authentication of the user's identity. Purchases will be charged to a customer's bank account rather than being charged to a mobile phone account.

Clayton Wakefield, group general manager, technology and operations, ASB Bank, says: "The technology developed for mPayment provides the platform for any number of merchants to offer their customers a new way to pay for goods and services using their mobile phone."

"We will be actively seeking new partners to join this initiative and ultimately we expect this technology to be available to all banks and telecommunications companies in New Zealand," he adds.

ASB Bank and Telecom's advanced solutions group completed technical trials over the Christmas period, and plan to launch the prepaid top-up service to customers in late March 2004.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

22 January, 2004
13 January, 2004
13 January, 2004
06 January, 2004
08 December, 2003
03 December, 2003
04 November, 2003

Related company news

 

Top topics

Most viewed Most shared
Global fintech investment triples - Accent...
8475 views comments | 43 tweets | 25 linkedin
Wells Fargo to usher in voice and facial b...
5611 views comments | 20 tweets | 24 linkedin
Barclays takes on Apple with wearable paym...
5501 views comments | 32 tweets | 22 linkedin
Stockholm stakes claim as European fintech...
5077 views comments | 19 tweets | 13 linkedin
E-commerce goes mobile
4932 views comments | 22 tweets | 20 linkedin

Featured job

to £100K base, double OTE, stock options
London, UK

Find your next job