Telstra Prepares to Introduce Mobile Payment Services

Telstra, Australia's largest mobile carrier, announced today that, together with Visa and NAB (National Australian Bank), it intends to offer mobile payment options to its customers. The Australian carrier has launched a mobile payment trial, which involves a group of merchants and consumers from Melbourne Docklands.

 

The new so-called "Contactless Mobile Payment" technology asks users to download a NAB Visa credit card software app on their Telstra handsets – this allowing them to use the phone as a credit card when buying various goods.

 

Talking about the benefits of mobile payment, Ms. Lisa Gray, chief operating officer of Retail Banking at NAB, stated, "Our customers will be able to walk in to a store, select goods to purchase, wave their phone over the reader, see the transaction approved immediately and leave without having to open their wallet. In addition, NAB merchants availing of this new payment option can benefit from the faster transaction times and reduced need for cash handling."

 

Chris Clark, general manager at Visa Australia and New Zealand, added, "Mobile phones are one of the most promising new forms of payment in the world today. Research indicates that contactless mobile payments are two to three times faster than an average cash transaction. As the technology evolves, we expect it will be possible for consumers to use their mobile phones to download electronic coupons tailored to their interests, monitor their accounts, make mobile Internet payments and access other applications that provide a compelling customer experience. We are very positive about the opportunities."

 

If the results of the mobile payment trial (which will run for several months) are satisfying, Telstra, NAB and Visa will come up with a commercial version of the service sometime in the future. This way, any Australian mobile user will be able to take advantage of the new technology as long as he or she has a Telsta mobile device.