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| A SIM-ple payment |
  
Posted Date: 07/08/2012
By Inside Retail
Westpac's Android users can now makes instore purchases using technology embedded in their mobile phone's SIM card.
The latest point of sale (POS) development was piloted today by the bank in collaboration with MasterCard.
The Android Mobile Contactless Payment program works by equipping SIM cards with an additional secure element.
To activate, wired up users then tap their phone instore on a contactless near field communications (NFC) payment terminal, MasterCard PayPass.
The terminals used for this pilot will be the same MasterCard PayPass contactless terminals already seen in merchants across the country for other bank users.
The launch follows other similar initiatives by credit card rival, Visa, who early last year locally trialled a contactless mobile phone trial with ANZ.
Visa also launched a new solution at the MWC expo earlier this year, which allows customers to pay for products via any "Visa-certified" NFC phone.
Westpac's pilot joins the bank's other new tech offers, including Mobile PayWay, Budget Planner, and the bank’s iPad application.
Currently 3.4 million of its customers are digital, with 43 per cent of these people using their mobile phone to process payments online.
MasterCard Australia’s Head of Market Development and Innovation, Matt Barr says it won’t be long until the wallet as we know it changes for good.
“The desire from both consumers and merchants for fast, convenient mobile payments solutions is ever-increasing," he says. |
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