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Telstra, NAB and Visa intend to develop Australia's first trial allowing customers to pay for goods and services with a wave of their mobile phone.
The trial will see a select number of Telstra and NAB customers supplied with a smart mobile phone specifically enabled to allow them to pay for goods or services with Visa.
The phone will be embedded with contactless near field communications (NFC) technology, with the SIM card loaded with a NAB Visa card application. NAB customers would then be able to make a payment simply by waving their Telstra mobile phone over a merchant's contactless reader.
Making a Visa payWave contactless payment with a Telstra mobile phone is the first of many potential applications of the new NFC technology.
Telstra Group Managing Director Enterprise and Government, David Thodey, said Telstra contactless enabled mobile phones may, in the future, also be used to hold loyalty, membership cards, marketing offers, public transport tickets and building access security cards.
"Instead of having a wallet or purse full of plastic cards, you could soon have them all supported on a single Telstra mobile phone, providing enhanced security and convenience," Mr. Thodey said.
NAB Executive General Manager Retail Banking, Andrew Thorburn, said the trial was an exciting step for banking in Australia and that NAB was pleased to be working with Telstra and Visa.
"In the not too distant future we envisage NAB customers being able to walk into a shop, give their mobile a quick wave over a reader and simply walk out with their purchases," Mr. Thorburn said.
"This is cutting edge technology that is being tested by leading banks and telcos around the world. Our trial will include mobile phones as well as contactless Visa cards, and will keep our customers at the forefront of easy and secure banking technology."
"As one of Australia's largest suppliers of EFTPOS terminals for merchants we are also excited about the benefits of Visa payWave contactless transactions for our business customers. This could not only mean less cash handling, but also faster service times and less queuing at the check-out."
Visa International Executive Vice President, Australia, New Zealand and South Pacific, Bruce Mansfield, said Visa is committed to offering new and innovative ways for consumers to pay and for merchants to be paid.
"The Telstra NAB Visa initiative will show how convergence of mobile technology and payment services can bring benefits to Australian consumers," Mr Mansfield said.
"Visa's mobile payment services are being trialled by financial institutions and telecommunications companies in the United States and Asia. Visa expects the experience from those initiatives will be of great benefit to this partnership with NAB and Telstra, and will help ensure a smooth introduction in Australia."
The trial begins in Melbourne in early 2008 and includes joint Telstra and NAB Visa customers as well as selected merchants.
NAB Media Contact:
Rebekah Miles
Ph: 0400 541 139
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