Mobile wallet trialled in NZ
(30 November 2011 – New Zealand) A three-month trial of mobile wallet technology is underway by Bank of New Zealand in collaboration with Vodafone.
The 44 BNZ staff trialling the technology are using NFC-enabled Samsung Galaxy S2 handsets, which stores Visa payment card data on a secure chip embedding inside the SIM card.
Participants are able to access an app on the smartphone to view transactions, which are updated in real time.
BNZ's head of channels innovation, Paul Tait, believes the technology being trialled holds great potential for the future of mobile payments.
'What we're testing here is the viability of a true, mobile wallet that will eventually allow people to replace multiple pieces of plastic with functionality embedded inside their phone. It's going to make smartphones even smarter,' he said.
BNZ has created a mobile banking software team at its head office in Wellington to build its own online banking apps. In July, the bank reported NZ$1 million (A$826,000) in transactions within four days of launching its first mobile Web site and iPhone app.
Participants are able to access an app on the smartphone to view transactions, which are updated in real time.
BNZ's head of channels innovation, Paul Tait, believes the technology being trialled holds great potential for the future of mobile payments.
'What we're testing here is the viability of a true, mobile wallet that will eventually allow people to replace multiple pieces of plastic with functionality embedded inside their phone. It's going to make smartphones even smarter,' he said.
BNZ has created a mobile banking software team at its head office in Wellington to build its own online banking apps. In July, the bank reported NZ$1 million (A$826,000) in transactions within four days of launching its first mobile Web site and iPhone app.
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