Semble has officially launched in New Zealand
New Zealand’s first integrated mobile wallet has been released. Smartphone users throughout the country can now download the Semble application for free, which allows them to make secure mobile payments. The application also acts as a digital wallet, storing data from retailers and financial information. Semble is an independent company, but is owned by Paymark, 2degrees, Vodafone, and Spark. The company was formerly known as TSM NZ, but was renamed for greater market impact.
Semble makes use of NFC technology to process mobile payments at physical stores
The Semble app leverages NFC technology in order to conduct mobile payments. This technology is quite common in the mobile commerce space, where it is used by a wide variety of platforms that process mobile transactions. NFC technology allows digital information to be transmitted over short distances, making it a perfect tool for contactless payments. Using this technology, Semble can be used to make a mobile payment at retail stores that support NFC-based transactions.
Consumer financial information is safely stored in Semble as a digital representation of itself
Semble stores financial information from bank and credit cards. Virtual versions of payment cards are stored within the application in a process that is similar to tokenization. Semble believes that its application will one day replace debit and credit cards. This may eventually become true, as more consumers opt to shop from their mobile devices rather than visit physical stores. A growing number of consumers are also demanding in-store support for mobile payments, which is reducing the use of credit cards and other forms of conventional commerce.
Mobile commerce is expected to continue growing in New Zealand, with more retailers showing their support
Those living in New Zealand have had relatively few options when it comes to participating in mobile commerce. The growing interest in mobile payments has made the country a relatively active market for companies that provide mobile commerce services. In the coming years, mobile commerce is expected to become more active in New Zealand, especially as more retailers opt to support mobile payments.