22 August 2017
Find out more

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

03 February 2004  |  5210 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  |  8646 views  |  0 comments
Copenhagen Stock Exchange launches SMS price service

Copenhagen Stock Exchange launches SMS price service

13 January 2004  |  6240 views  |  0 comments
Visa to extend mobile top-up service across Europe

Visa to extend mobile top-up service across Europe

13 January 2004  |  5193 views  |  0 comments
Contopronto wins e-money licence

Contopronto wins e-money licence

06 January 2004  |  6283 views  |  0 comments
AIB introduces text-based mobile top up service

AIB introduces text-based mobile top up service

08 December 2003  |  5208 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  |  5113 views  |  0 comments
JCB to test biometric authentication for mobile payments

JCB to test biometric authentication for mobile payments

04 November 2003  |  29545 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.dorsum.euvisit www.vasco.com

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12231 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
10752 views comments | 22 tweets | 33 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10103 views 0 | 6 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9992 views comments | 10 tweets | 8 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
9887 views comments | 21 tweets | 34 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job