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

 


Westpac trials HCE Digital Wallet technology

Westpac trials HCE Digital Wallet technology


Westpac is trialling Host Card Emulation (HCE) mobile payments, the first bank in New Zealand to actively do so and one of only a handful of banks globally to be using the innovative ‘digital wallet’ technology.

The three month trial, which uses Carta Worldwide HCE technology, enables credit and debit card details to be securely stored in a remote and hosted ‘cloud’ environment, accessible from Android smartphones.

This places all relevant customer information in one place without the need to carry and use a physical credit or debit card.

After downloading a digital wallet app and registering their card details, customers will be able to use Near Field Communication enabled Android handsets to make payments at any contactless terminal.

Westpac’s Chief Product Officer Shane Howell said the trial is the first step towards a completely digital wallet in New Zealand, and is expected to be available to customers early next year.

“We already use our smartphones to organise so many aspects of our lives, so using them to make payments is just a natural extension of this. This is the first of four key components we are looking to develop that will make up a digital wallet for Westpac customers.

“The other components we are looking to incorporate are transport cards for buses and trains, loyalty programmes such as Hotpoints® and potentially even forms of ID like a driver’s license. What we’re working towards is a true digital wallet experience that is safe and easy to use.”

Developed in partnership with global payments innovators Carta Worldwide, security is a key feature of the digital wallet.

Carta’s Chief Technology Officer Rui Mendes said “With our advanced, layered security, each individual mobile transaction is protected. HCE enables mobile secure transactions that are compatible with existing contactless terminals. With Carta’s advancements in data security along with user app features like mobile PIN, our cloud based solution is just as secure as the existing plastic card.”

Howell says banking is in a period of digital disruption and payments are a focus of innovation all over the world.

“Payments are something that customers do daily and developing ways to make things easier via digital and mobile channels is a focus for us.

“We have chosen to go this way as technology is developing so quickly and we can ensure flexibility by using HCE. Working within an industry wide group such as the TSM (Trusted Services manager) may not allow that flexibility.”

The trial is with 40 selected Westpac staff and customers across the country.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news