New mobile payment solution goes live

3rd May 2004
MEDIA RELEASE

New mobile payment solution goes live

ASB Bank and Telecom launch first application of mPayment service

ASB Bank and Telecom today have launched a world-leading mobile payment service that will enable consumers to pay for goods and services from their bank account using their mobile phone.

The new service, called mTopup, allows Telecom Prepaid mobile customers with an ASB Bank account to top up their phone credit from their bank account via an SMS text message.

The mobile payment platform, generically termed Mobile Payment or mPayment, is the first collaboration of its kind between a major telco and a bank in New Zealand.

mPayment connects a customer’s mobile phone directly with their bank account. For Telecom Prepaid mobile customers, the new mPayment solution will provide them with a further alternative to topping up their phone via scratch cards, credit cards, or ATM.

As the service expands, merchants will be able to offer greater payment options to their customers, particularly those who are not physically present for the transaction, and will have an increased surety of payment in advance.

ASB Bank’s Group General Manager, Technology and Operations, Clayton Wakefield says the mobile top up service is just the first of many applications for mPayment.

“The technology developed for mPayment provides the platform for any number of uses by merchants. ASB Bank constantly strives to be the technology leader in the New Zealand banking industry and this is another milestone for our customers.”

“As more and more merchants begin to use the service, they will realise the benefits of increased revenue opportunities and reduced risk for their business. Ultimately we expect this technology to be available to all banks and telecommunications companies in New Zealand,” he says.

Telecom’s Chief Operating Officer, Simon Moutter says the company is delighted to be working with ASB Bank on such an innovative development in the mobile technology space.

“The topping up of Telecom Prepaid phone accounts is only the beginning – it’s about bringing greater convenience to our customers by enabling them to make mobile payments almost anywhere and anytime.”

To register for the mPayment service customers who have an ASB Bank account and Telecom Prepaid mobile can visit www.asbbank.co.nz/promotion/Mpayment/default.asp, or call 0800 MPAYMENT.

Once registered, each top up can be added by sending an SMS text message. There is no additional charge for this service and all mTopup text messages are free. Normal bank transaction fees apply.

The system checks a customer’s unique mobile phone number together with their password. There is also a transaction limit of two $20 top ups per day.

mPayment differs from micro-payment solutions, which simply charge costs to the customer’s mobile phone account. Emerging examples of micro-payment solutions worldwide include vending machine purchases and prepaid parking tickets.

As an introductory offer, any customer who uses the mPayment service receives an extra $5 in addition to their initial mTopup. There is also a prize draw for a Hyundai mobile phone or one of 30 $20 mTopups.

ENDS

© Scoop Media