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

 


ASB PayTag brings contactless payments to your mobile phone

Media Release

14 April 2014


ASB PayTag brings convenient contactless payments to your mobile phone

ASB PayTag turns any phone into a contactless payment device

ASB is taking another a giant leap towards pervasive mobile banking with the launch of ASB PayTag, a new technology allowing convenient and secure credit and debit card payments with a simple tap of your mobile phone.

ASB PayTag is a Visa payWave sticker that contains an ASB contactless chip card. With the sticker attached to any mobile phone, customers will be able to wave and go to pay for goods, in exactly the same way that the existing ASB Visa payWave cards work, eliminating the need to carry a physical wallet. The value of ASB PayTag is that it integrates seamlessly with ASB’s mobile banking app giving customers the ability to link the sticker to their preferred payment account. Customers have unprecedented levels of control, allowing them to self-select the account from which the payment is debited.

“ASB PayTag will bring a whole new level of convenience to paying on-the-go, allowing customers to pay for things simply, easily and securely while out-and-about,” says Russell Jones, ASB’s Executive General Manager, Technology & Innovation. “Customers simply wave their mobile phone over a payment terminal to make a secure payment. There’s no longer any need to carry a bulky wallet or even a physical credit card. The fact that ASB PayTag can be used with any mobile phone means that a wide range of customers can now turn their phone into a fully controllable, contactless payment device. It’s another example of the smartphone becoming the Swiss Army knife of banking.”

“Security remains the most important priority for ASB. As with all our credit card transactions, ASB PayTag transactions will be protected against fraud, effectively making this new technology safer than carrying around cash,” says Mr Jones.

Caroline Ada, Visa’s Country Manager for New Zealand and South Pacific, says ASB PayTag offers a simple, secure and convenient way for New Zealanders to pay.

“We want all Kiwis to be able to use mobile technology to pay and better manage their finances, while getting all the benefits of Visa – convenience, security, reliability and global acceptance,” says Ms Ada.

Furthermore, the sticker can be used on any mobile phone including non-NFC (Near Field Communication) enabled phones. Planned improvements for ASB PayTag include the ability to turn the sticker on and off, putting control for enabling contactless payments in the hands of the customer.

Contactless payments have proven to be around three times faster[1] than paying with cash and contactless is ideal for transactions under $80, as no signature or PIN is required. Contactless payments are continuing to grow in popularity as customers across the world embrace the greater freedom and flexibility it allows them.


“As the New Zealand mobile payments market evolves ASB will continue to explore new technologies and look at more ways we can offer our customers an array of convenient choices in making payments from their mobile devices,” says Mr Jones.


A pilot of the technology is scheduled to begin in May with a commercial launch planned for Q3 2014.


How will ASB PayTag work?

• Customers will need an ASB Visa debit card.

• Log in to ASB’s FastNet Classic internet banking, register for PayTag and nominate the card to make payments from.

• The ASB PayTag sticker will arrive unactivated in the post.

• Log into FastNet Classic or call the ASB Contact Centre to activate the pin for PayTag.

• Place the PayTag sticker on the outside of a mobile phone.

• Make payments by ‘waving’ the sticker over Visa payWave contactless enabled payment terminals.


ENDS


[1] Visa Smart Card Deployment Study, Taiwan and Malaysia, Deloitte 2006.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news