Mobile wallets of the future
Sat, 26 Nov 2011 6:18p.m.
By Emma Joliff
Mobile phones are becoming mobile wallets in a joint trial between Vodafone and the BNZ.
In the future there may be no need for cards or cash – with the latest technology allowing us to buy food and drinks using just a phone.
It’s called field communication.
Currently, there are only 45 phones with the required technology in the country - part of a three month trial in Auckland and Wellington.
When a purchase is made at Vodafone and BNZ in-house cafes the value is charged, in this case, to Visa, and an electronic receipt is then sent to the phone.
But BNZ's head of innovation, Paul Tait, says it is not just about payments.
“It’s how you hook in your loyalty schemes such as Flybuys, it’s about getting on transport, and it’s about booking tickets and collecting coupon discounts,” Mr Tait says.
He says the technology is intuitive and fast and as more readers enter the market, users will be able to select other credit or debit cards that they want to use.
The feedback on the new technology so far has been good, and project manager Phillippa Shortland says that it is also secure. The same security measures that exist for cards will also apply to phones.
“If you lose your wallet you’ve got to block your cards, if you lose your phone you’ve got to do the same,” Ms Shortland says.
BNZ is hoping the new technology will be rolled out around the country within 18 months.
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8/01/2012 7:30:56 a.m.
I agree with you Doug, every transaction recorded you make is recorded about you what you buy when and where. A profile built on what you do a marketers dream, your data can be used or abused and digital money made out of thin air, easy rip off scheme, yip scanners are great for an easy pick pocket. You lose your phone with a wealth of info on it and fork out for a new smart phone and your battery dies when you need something. I'd rather lose my wallet. Privacy is everything welcome to NFC fan's life. (YOUR DATA IS NEVER ERASED PERIOD)
28/11/2011 9:08:54 p.m.
Very impressed with Russell Briant's moustache!!!
28/11/2011 11:58:20 a.m.
NFC fan wrote:
Cashless society - not a good thing? I beg to differ.
Just tell me what happens when you lose your wallet with real money inside?...you can't get that back.
Debit Cards are useless without a pin and fraudulent transactions on a credit card are insured.
Sorry Doug if everyone was as short sighted as you, we would still be living in the dark ages.
27/11/2011 12:45:26 p.m.
This is bad news it's the start of a cashless society and no that's not a good thing it's ripe for abuse more things can go wrong technology is not as reliable as we want to believe. Shame on these people what is their real agenda! Too bad the majority of people will see this as a good thing poor narrow sighted living in a box sheeple.
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