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.
3 News