FutureFive New Zealand - Consumer technology news & reviews from the future
Story image
ANZ responds to growing demand for mobile wallets
Mon, 7th Dec 2015
FYI, this story is more than a year old

Tomorrow ANZ will launch its new goMoney Wallet for Android users, enabling a number of New Zealanders to make purchases using their mobile phone.

According to the bank, around 90,000 people will meet the criteria for the ANZ mobile wallet – that is, they have a compatible Android smartphone, ANZ goMoney and an ANZ debit card or personal credit card.

The wallet is the latest enhancement for ANZ goMoney and will enable customers to make contactless payments by ‘tapping' their Android smartphone.

Fred Ohlsson, ANZ managing director retail and business banking, says,  “Technology has transformed banking so customers can now do their banking 24 hours a day from wherever they are in the world via online banking or mobile banking.

“This transformation is now changing how people pay for goods and services.

He says, “Mobile wallets are the next evolution in payments, and will enable customers to make purchases with just a tap of their mobile phone. Ultimately, this could mean the end of physical wallets of cards and cash.

“ANZ is leading the move to mobile payments with the launch of goMoney Wallet, the first mobile payment app built by a bank in New Zealand, and the first Host Card Emulation mobile payment solution in New Zealand.

Liz Maguire, ANZ head of digital channels and transformation, says a mobile wallet was the number one request from ANZ goMoney customers when they were surveyed earlier in the year.

“Customers look to banks less for transactions, and more for the tools to manage their money when and where they want,” she says.

According to Macquire, the key benefit of the goMoney Wallet is that it is within ANZ's mobile banking app, ANZ goMoney, which removes the need for a separate app or SIM card upgrade.

Payments can be made in the same way as customers use a contactless card with a PIN only required for transactions over $80.

Using Host Card Emulation (HCE) technology, ANZ goMoney Wallet will feature advanced encryption technology to protect customers' financial information.