Consumers approve contactless mobile payment

The results of Australia’s first trial of contactless mobile phone payments have shown Australians show a strong liking for the technology, with 90% of participants very or extremely satisfied. A three-month trial at Melbourne’s Docklands, organised by Telstra, National Australia Bank and Visa, found 95% said they were likely to use the technology while 78% said paying using a mobile phone was better than paying with cash.

The technology involves users downloading an NAB Visa credit card software application to a Telstra SIM card, then waving their mobile phone over a Visa PayWave reader. The costs of purchases are charged to a NAB Visa credit card account.

Telstra enterprise and government group managing director David Thodey said the results were encouraging.

“Overwhelmingly the trial participants told us that they saw genuine value in the ability to make smaller transactions, such as for coffees and papers, with a wave of the phone rather than fumbling for change.

“Importantly the businesses that took part in the trial were strong supporters of the technology, seeing it as a way to boost their productivity by serving customers faster.”

NAB regional general manager, consumer product solutions John Salamito said the bank was pleased from the results of the trial.

“Exploring and introducing the latest advancements in technology to make our customers’ and merchants’ everyday banking and transactions easier, faster and more convenient is very important to NAB. Now we know that mobile payments can work successfully.”