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

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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