ANZ launches iPhone app
(19 April 2010 – Global) ANZ is trialling a free iPhone application enabling highly mobile merchants to take payments securely and quickly.
Dubbed ANZ ePOS Mobile, the application is designed to relieve mobile merchants of the hassle of lugging around larger mobile EFTPOS terminals as the ANZ iPhone application can process on-the-spot credit and debit card transactions at a customer location.
The application treats the payment as a ‘card not present’ payment, therefore not requiring a signature or PIN. However is still safe for the customer, as credit card details such as expiry date and card verification code are encrypted and no customer data is stored on the iPhone.
An automated email receipt is then sent to the customer, who does not incur any fees. Merchants, however, pay a standard fee.
Peter Dalton, ANZ head of innovation, announced that three merchants have been involved in a pilot to trial the software, however the bank hopes to increase that to 20 by May and to launch it completely by June, Australian IT reported.
ePOS Mobile accepts credit cards from all financial institutions but during the trials a limit of A$1,000 was set and if an iPhone is stolen the bank can cancel a transaction remotely, Mr Dalton added.
ANZ is trying to deliver banking solutions that make things faster and simpler for its customers, Mr Dalton said.
The bank said the application, which cost ‘a couple of hundred thousand to develop’ was chosen to work with the iPhone because of its growing market share and the fact that iTunes apps store makes it easy for people to download the application.
The application treats the payment as a ‘card not present’ payment, therefore not requiring a signature or PIN. However is still safe for the customer, as credit card details such as expiry date and card verification code are encrypted and no customer data is stored on the iPhone.
An automated email receipt is then sent to the customer, who does not incur any fees. Merchants, however, pay a standard fee.
Peter Dalton, ANZ head of innovation, announced that three merchants have been involved in a pilot to trial the software, however the bank hopes to increase that to 20 by May and to launch it completely by June, Australian IT reported.
ePOS Mobile accepts credit cards from all financial institutions but during the trials a limit of A$1,000 was set and if an iPhone is stolen the bank can cancel a transaction remotely, Mr Dalton added.
ANZ is trying to deliver banking solutions that make things faster and simpler for its customers, Mr Dalton said.
The bank said the application, which cost ‘a couple of hundred thousand to develop’ was chosen to work with the iPhone because of its growing market share and the fact that iTunes apps store makes it easy for people to download the application.
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