NAB mulls over mobile payments strategy

NAB mulls mobile payments strategy

All four major banks have at times trialled near-field communications technology on smartphones to determine the viability of contactless payments in the Australian market.

 

Back in 2008, NAB was the first bank to trial mobile payments in 2008 in partnership with Telstra and Visa. Although the trial was reported as a success it never eventuated into a full commercial roll out.

 

A recent article at iTnews has flagged that National Australia Bank is still “investigating” a potential mobile payments strategy four years after its Australian-first trial of contactless payments. A NAB spokeswoman said the statistics indicated “our customers are becoming more and more comfortable transacting via online channels” and added that NAB is “closely monitoring the mobile payments landscape”. The bank is in conversation with potential telco partners, handset manufacturers and other payment schemes.

 

The NAB spokeswoman told itNews that "Mobile payments is the next logical step and NAB is actively working towards a future where our customers will be able to use their mobile phone as a wallet”  To read the full article please click here

 

At the 17th annual Cards & Payments Australasia 2012 event back in March, Callum Nelson, head of strategy and delivery for NAB’s payments transformation program told the conference that banks would "likely lag behind niche players in releasing contactless technology offerings".

“Banks can definitely compete but I don’t see banks being first movers in this market" and " whereas a smaller niche player can go to market with a very thin slice of that banking offering far, far more easily" he said at the time.

 

The mobile payments market has gained momentum in the region through services like Commonwealth Bank’s Kaching , ANZ’s Go Money and St. Georges recent launch of Pay to Mobile in June.

 

Banks, telco's, merchants, payment schemes will gather in March 2013 at the 18th Annual Cards & Payments Australasia 2013 Conference & Expo to discuss their mobile payments strategy and source solutions in the space. Click here to find out more.

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