ANZ Bank trials mobile ePOS for iPhones
PAYING for a fixed dishwasher or fridge on-site has become a step easier thanks to a free iPhone application by ANZ Bank.
The bank is aiming the application at merchants with iPhones who are highly mobile and want to take payments quickly and securely, instead of lugging around portable EFTPOS machines.
Dubbed ANZ ePOS Mobile, the application can process on-the-spot credit and debit card transactions at a customer location.
Credit card details such as expiry date and card verification code are encrypted and no customer data is stored on the iPhone.
Authorisation does not require a signature or PIN as it is treated as a “card not present activity” — a form predominantly used to buy goods and services on the internet.
After payment is made an email bearing the receipt will be sent to the customer, who doesn’t incur any fees. Merchants, however, pay their standard rates to ANZ.
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Three merchants, including Fisher & Paykel Australia, are currently involved in a pilot to trial the software, ANZ head of innovation Peter Dalton told reporters in Sydney.
ePOS Mobile accepts credit cards from all financial institutions but during the trials a limit of $1000 was set, Mr Dalton said.
Spruiking the security features of the application Mr Dalton said if an iPhone is stolen the bank can remotely cancel a transaction.
The pilot, which commenced in mid-March, will scale to 20 merchants until May, he said. The bank hopes to make ePOS Mobile available on iTunes in Australia by June, Mr Dalton said.
“We’re trying to deliver banking solutions that make things faster and simpler for our customers,” he said.
According to Fisher & Paykel customer care financial controller Rudolph Khoury, the application was easy to use and convenient. “I haven’t had to call anyone from ANZ about this during the trial.”
A mobile suit tailor and mobile car detailer are also testing ePOS Mobile .
The idea for the solution was conceived in August 2009 by Mr Dalton’s team and developed with help from Deloitte Digital. The total project cost was “in the vicinity of a couple of hundred thousand dollars”, he said.
“We chose to do this on the iPhone because of its growing market share. Also, the (iTunes) apps store makes it easy for people to download the application,” Mr Dalton said.
Mr Dalton’s 22-person team is also working to enhance products for internet banking and other platforms such as the Apple iPad.
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