The Australian bank is the first bank in New Zealand to try out Host Card Emulation (HCE) m-payments.
According to Westpac, it is utilizing Carta Worldwide’s HCE technology for its three month NFC-enabled mobile payments trial in New Zealand, and the payments systems is compatible exclusively with Android smartphones equipped with the most recent software updates.
Westpac hopes to launch a digital wallet in the country.
Shane Howell, the chief product officer of Westpac said that the trial is the initial steps toward a fully digital wallet in the country and that they expect their mobile wallet will be available to customers in early 2015.
Howell stated that “We already use our smartphones to organize so many aspects of our lives, so using them to make payments is just a natural extension of this.” He added that the three month test is only the “first of four key components we are looking to develop that will make up a digital wallet for Westpac customers.”
He explained that there are additional components that the financial institution is considering incorporating into its digital wallet, such as loyalty programs and public transit transport cards. It is even considering a form of ID, such as a driver’s license. Howell said that what Westpac is working toward achieving is a “true digital wallet experience” that is easy for customers to use and that is safe.
Mobile payments security is an essential feature of the digital wallet.
Westpac developed the mobile wallet in a partnership it made with Carta Worldwide, a company known for global payments innovation. The Australian bank has said that for its digital wallet, security is key.
Rui Mendes, Carta’s chief technology officer said that with Carta’s advanced and layered security, every single mobile transaction that is made is protected. HCE allows for secure mobile transactions that are compatible with contactless terminals. The company’s cloud-based solution is equally as secure as using plastic cards because of its data security advancements and its app features, such as mobile PIN.
The three month mobile payments trial involves a selection of 40 Westpac customers and employees across New Zealand.
Wallaby unveiled its third app for wearable devices.
The mobile and online credit card optimization solution is the first to launch a mobile wallet app for the Samsung Gear 2 smartwatch, which provides users with the ability to make financial decisions in real time.
Wallaby helps consumers select the best credit card for every transaction.
The company is known for assisting consumers in choosing the credit card that is the most idea for each of their transactions to help them earn the most rewards and to save the most money. The app gives users the ability to view their credit card utilization, balances and balance limit, as well as obtain suggestions on which card is the most practical for each shopping experience.
In addition to having offerings for Android and iOS, currently, Wallaby has an app for the wearables Google Glass and Pebble. One of its goals is to appeal to early adopters of wearable technology, so that it can improve its current wearable app formula and make it more successful and appealing for other major companies when they enter the wearables market.
In an interview with Mashable, Matthew Goldman, the CEO and founder of Wallaby said that “We’ve chosen to be involved in wearables because we think that we’re providing the kind of apps people want.” He added that “A lot of people focus on fitness and health but financial health is an important factor of everyone’s everyday life.”
Goldman stated that Wallaby’s has already learned more about what users want from the company’s existing wearable applications. Their apps have helped them understand what users want to see on the tiny screens of their devices.
The Samsung Gear 2 smartwatch is believed to be the perfect wearable platform for the Wallaby app.
Goldman said of the Samsung Gear that it is a “compelling device with an excellent interface” and that it is a platform well suited to providing users financial information that will help them avoid fees and save money.
According to the company’s press release, Consumers who use the Wallaby app on their smartwatch will receive unbiased recommendations that are based on the company’s industry leading database and algorithms of “credit card promotions and rewards intelligence.”
