Banking News

NAB and Visa trial mobile payments

NAB and Visa trial mobile payments

(4 September 2007 – Australia) National Australia Bank is trialling a mobile phone payments service with Telstra and Visa. The trial will involve Telstra and NAB customers being supplied with a smart mobile phone which will allow them to pay for goods or services with Visa.

The phones will contain contactless near field communications technology, with the SIM card loaded with a NAB Visa card application.

NAB customers can make payments by waving their Telstra mobile phone over merchants’ contactless reader facilities.

NAB executive general manager for Retail, Andrew Thorburn, said he envisaged bank customers being able to walk into a shop, and give their mobile a quick wave over a reader to make a purchase.

He said mobile payments technology was being tested by leading banks and telcos around the world and the trial would include mobile phones as well as contactless Visa cards.

Thorburn said that as one of Australia's largest suppliers of EFTPOS terminals for merchants, the payments technology would also benefit business customers.

Visa International executive vice president, Australia, New Zealand and South Pacific, Bruce Mansfield, said Visa was committed to offering new and innovative ways for consumers to pay and for merchants to be paid.
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