Author: Amanda Giasson

The Australian banking industry has increased its efforts to offer consumers new mobile payments technology.

Throughout the past year, Australia’s major banks have become more and more invested in mobile payments that utilize NFC technology and all if the “Big Four” – Westpac, CBA, ANZ and NAB – now have contactless cards available for their customers.

Over a 12 to 18 month period, contactless payments soared from 10% to 60%, according to Westpac.

The Australian bank also predicted that three million people will make approximately five contactless mobile payments, on average, each month in 2015, which will result in a $3 billion industry.

Mobile payment solutions embedded with near field communication (NFC) technology are believed to be the tech that is the most probable to advance mobile proximity commerce in the years to come. Moreover, with the country’s chief banks getting involved, there has been an increase in consumers adopting NFC services.

NFC solutions, such as Commonwealth Bank’s CommBank app, which enables users to “Tap and Pay” with their smartphone, offer consumers all of the advantages of contactless cards like ease of use, convenience, security and fast payment. What’s more, however, they make a user’s mobile device even more practical for day-to-day use.

For instance, Commonwealth Bank customers have the ability to withdraw cash from ATMs without having to use a card. All they need to do is login to the financial institution’s mobile app and choose the desired amount they want to withdraw. They will then be provided with a code that they enter into the ATM and a PIN that is texted to their mobile.

Even wearable technology is being used. Recently, St. George became the first bank in Australia to release a banking app created for smartwatches. All of these different trials from the banks are the innovative ways that these institutions are attempting to make it more convenient for consumers to go about their daily lives without having to worry about using cash or plastic cards.

Security will play a significant role in the adoption of NFC technology.

Security is the heart of every payments platform. For this reason, consumer trust is essential in order for a payment method to do well and survive. In a newly conducted survey by RFi Consulting, 55% of survey respondents cited security as one of the three main factors that affect how they choose to pay for merchandise. Thus, it should come as no surprise that security has been a top priority for banks in the creation of their latest mobile payment technologies. If a phone equipped with NFC technology was stolen or lost, for example, the consumer is safeguarded from fraudulent account activity in the same way they would be with a credit or debit card.

GravitySketch tablet helps to simplify digital design.

The unique mobile device allows users to design and draw in 3D on a tablet equipped with an embedded Arduino chip, a pair of augmented reality glasses and an infrared stylus, allowing them to create their sketches in a digital format without having to transfer a design drawn on paper to a computer.

Users of the tablet can edit, rotate and expand what they create with the stylus while wearing the AR glasses.

Users of GravitySketch make a drawing with an infrared stylus on a gridded perspex pad. The chip and Unity software within the tablet track the stylus and switch the sketches into a three dimensional format. The image that results is sent to Laster AR glasses, which show the design as a 3D object. One or more users can then manipulate or alter the image.

GravitySketch first started in October 2013. It was invented by Pierre Paslier, Guillaume Couche, Oluwaseyi Sosanya, and Daniela Paredes Fuentes, four of London’s College of Art students. The students were inspired to create the digital pad after they surveyed several creators and discovered that for a great number of these individuals, a pencil and a pad of paper is often the simple tools that are used during the initial creative process. It is not until the creator reaches the point of attempting to convert their original vision into a final product that they use a computer.

It is the hope of the team behind the augmented reality tablet that they will be able to bring the two creative processes together, which would lower the barrier that exists between the initial vision and the practical outcome.

The augmented reality device is likely to benefit more than just designers.

It is very likely that 3D interfaces, like that GravitySketch will be found highly useful for various purposes. For instance, it could be utilized by surgeons, who could upload the image of a ligament or bone, and give the surgeons the ability to draw necessary surgical fixtures directly on the image. On the other hand, it could be used in industrial settings for collecting and utilizing data hands-free or even in augmented reality gaming, among other applications.