Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Payments NZ launches new standards for mobile payments

Payments NZ launches new standards for mobile payments

25 March, 2014 – New options for making payments by mobile phone are expected to appear later this year, and Payments NZ has launched new Mobile Device Rules and Standards that will govern the mobile payments system, and protect businesses and consumers.

The new standards will ensure the integrity, efficiency and security of mobile payments. That means when telecommunications companies and banks launch new payment options for their customers, there is already an industry-agreed system in place.

“The new rules help protect the credibility and security of domestic payments, which will give customers greater confidence to use the technology,” Payments NZ CEO Steve Wiggins said.

Mr Wiggins said customers will be able to choose from a range of payment options.

“Today, customers use any card they want to pay for goods. Soon, they’ll be able to choose an application on their mobile phone to do the same thing.”

When contactless mobile payment applications are rolled out by banks and telecommunications companies later this year, Near Field Communications (NFC) capable smartphones and contactless-capable point-of-sale terminals will be compatible. This will work in a similar way to contactless payment options that come with some credit and debit cards now.

Customers will be able to take their items to the counter and tap their NFC-capable smartphone to pay.

Mr Wiggins said Payments NZ consulted widely on developing the standards to ensure they can support future innovation.

“We’re confident the Rules and Standards will meet the needs of emerging technologies this year, as well as maintain the flexibility to respond to new developments in the rapidly evolving market. We’re now looking forward to seeing what the industry comes up with in terms of mobile payments,” Mr Wiggins said.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Employment: ANZ Proposes Casualisation In Whangarei Stores

ANZ workers in Whangarei could see their incomes drop by 20 to 40 percent if the bank’s proposal to reduce the number of full-time positions goes ahead says FIRST Union national organiser Tali Williams. More>>

Finance: BNZ Develops Specialist Tāmaki Māori Banking Team

BNZ develops specialist Tāmaki Māori Banking Team to support Māori as Auckland grows More>>

Pharmaceuticals: Commerce Commission To Consider Pharmaceuticals Merger

The Commerce Commission has received an application from Pfizer Inc. seeking clearance to acquire all of the shares in Hospira Inc. More>>

Real Estate: Housing Unaffordability Issues Spread

Surging house prices in Auckland and Queenstown last month pushed home ownership even further beyond the reach of first home buyers in the two districts, according to the AMP360 Home Loan Affordability Report for March. More>>

Statistics NZ: Annual Exports To China Dip Below Australia

The value of goods exports to Australia ($8.7 billion) surpassed those to China for the year ended March 2015, Statistics New Zealand said today. More>>

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news