Mobile phone payment system trialled in Australia

A payment system in which consumers just have to swipe their mobile phones over special readers is being trialled at Melbourne’s Docklands, Inside Retail reports.

A payment system in which consumers just have to swipe their mobile phones over special readers is being trialled at Melbourne’s Docklands, Inside Retail reports.

Telstra, NAB and Visa are testing the “contactless mobile payments” system with 12 vendors and 200 selected consumers in the Docklands precinct.

For the consumers, it simply involves downloading a credit card software application to their mobile phone SIM card. They then simply have to pass their phone over a merchant’s reader installed in the stores to pay for goods on their credit card.

The idea is that contactless payment could become a quick and easy way of making quick purchases like a coffee or sandwhich, without having to fiddle with change or sign a paper slip.

Visa general manager Chris Clark told Inside Retail that payments made using the mobile system are two to three times faster than the 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.”

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