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.


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

© Scoop Media

Business Headlines | Sci-Tech Headlines


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news