Select a page

Banking News

NAB to launch into m-payments

NAB to launch into m-payments

(23 February 2009 – Australia) NAB is reported to be looking into the commercialisation of mobile payments after a strong consumer trial. NAB is looking into the commercial launch of mobile contactless payments after a three month trial at Melbourne's Docklands exceeded expectations and indicated a strong consumer appetite for the technology.

Financial technology website, Finextra, has reported that user feedback from the trial was extremely positive.

In fact, three key results made for a good outlook for NAB.

On the consumer side, 90 percent of trial participants were either very or extremely satisfied with the contactless mobile phone payment system, while 95 percent said they were likely or extremely likely to use the technology in the future.

This is a good sign for future demand for contactless mobile payments technology.

Also, more than three-quarters (78 percent) of participants said paying using a mobile phone was better than cash.

On the merchant side, feedback was also positive, with participants reporting contactless mobile phone payments as a quicker, more efficient and convenient way to serve customers.

NAB regional general manager, consumer product solutions, John Salamito, said that now that results show that mobile payments can work successfully in a real environment, revealing a strong consumer and merchant demand for such services, NAB is looking at ways to launch this into the Australian market.
East & Partners's avatar

Comment on this article


Your comments will not be published. Required fields are marked *


Please enter the word you see in the image below:


Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.