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

 

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Science Media Centre: Viral Science And Another 'Big Dry'?

"Potentially, if there is no significant rainfall for the next month or so, we could be heading into one of the worst nation-wide droughts we’ve seen for some time," warns NIWA principal climate scientist Dr Andrew Tait. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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