19 January 2017
visit http://www.wolterskluwerfs.com

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

03 February 2004  |  5061 views  |  0 New Zealand's ASB Bank and Telecom to launch m-payments service

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)

Finextra news in your inbox

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

Related stories

JCB combines credit card payment with mobile phones and contactless chips

JCB combines credit card payment with mobile phones and contactless chips

22 January 2004  |  8436 views  |  0 comments
Copenhagen Stock Exchange launches SMS price service

Copenhagen Stock Exchange launches SMS price service

13 January 2004  |  6058 views  |  0 comments
Visa to extend mobile top-up service across Europe

Visa to extend mobile top-up service across Europe

13 January 2004  |  5039 views  |  0 comments
Contopronto wins e-money licence

Contopronto wins e-money licence

06 January 2004  |  6113 views  |  0 comments
AIB introduces text-based mobile top up service

AIB introduces text-based mobile top up service

08 December 2003  |  5071 views  |  0 comments
UK mobile payments start-up licenses Sanchez core banking system

UK mobile payments start-up licenses Sanchez core banking system

03 December 2003  |  4926 views  |  0 comments
JCB to test biometric authentication for mobile payments

JCB to test biometric authentication for mobile payments

04 November 2003  |  29330 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
http://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit capgemini.comVisit contisgroup.com

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
14407 views comments | 85 tweets | 101 linkedin
Blockchain impact timeline speeds up, massive cost savings forecastBlockchain impact timeline speeds up, mass...
13387 views comments | 39 tweets | 35 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
11557 views comments | 47 tweets | 40 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
9866 views comments | 30 tweets | 20 linkedin
Swift goes deeper into the blockchainSwift goes deeper into the blockchain
9752 views comments | 30 tweets | 43 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job