The Bank of New Zealand (BNZ) has wrapped up the successful trial of its near field communications (NFC) trial that saw dozens of customers trial technology that enabled them to make payments using their mobile phone.

 

The four month trial saw participants using the specially equipped mobile pghones to make contactless payments at two innter city cafes in Auckland and Wellington, with customers making transactions by waving their phones in front of terminal.

 

Andy Symons, BNZ Director of Retail, said the trial was an outstanding success with the technology working seamlessly.

 

“People really enjoyed the ease of not having to carry around cards or cash to pay for such small amounts. Since our trial was limited to small transactions for which no PIN was required, it really sped things up at the point of sale. This is something both the customer and the retailer said they loved,” Mr Symons said.

 

“This convenience factor for both retailers and customers is at the heart of all the technology. Making things simpler, faster and more convenient is what we’re trying to achieve through innovations such as this. We look forward to working with all parties to help make this a reality.”

 

BNZ conducted a survey of the participants of the trial, finding:

  • 97% of respondents were likely to use the service if it was launched in the future. 3% were undecided
  • 62% of respondents expect the service to be free (14% willing to pay up to $3 per month)
  • 100% of respondents reported a positive experience using the service
  • 100% of respondents were likely to recommend the service to friends, with 46% indicating they would be “very likely”
  • 95% enjoyed the convenience of not having to enter a PIN for low value transactions
  • 78% enjoyed receiving a digital receipt on their phone instead of paper
  • 81% enjoyed not having to carry a wallet
  • 85% would prefer PIN-less transaction were limited to values of $80 or less.