[News] ASB Introduces PayTag Sticker to pay with your Smartphone
ASB is introducing PayTag, a sticker that is able to be attached to the back of your smartphone to use when paying for goods/services under $80. It is essentially like a PayWave-enabled card, but this time in the form of a sticker that can be stuck on conveniently to the back of probably the most carried item of the day, your smartphone.
The PayTag sticker will be linked to the ASB mobile banking app and will allow you to choose which account the funds will come out of.
The sticker is able to be used on any mobile phone including ones that don’t have NFC on them. This makes it a very versatile payment method; security still being tightened I imagine.
The ASB PayTag should be pretty straight-forward to use. According to ASB, customers will need an ASB Visa Debit card in order to be able to use this sticker. They then have to log in to ASB FastNet Classic and register for PayTag. A PayTag sticker will come deactivated in the post, and you will have to sign-in to FastNet Classic or call ASB to activate the sticker with a PIN. Customers can then place the sticker on their phone, and when paying for a purchase under $80, they can hold their phone with the PayTag sticker at certain terminals.
Contact-less payments are faster than regular EFTPOS or Credit Card transactions, because you don’t have to enter a PIN or wait for the connection to the bank via the EFTPOS machine immediately, therefore it is useful for purchases “under $80”, both security-wise and time-wise.
ASB hopes to roll out the PayTag sticker to the public by September this year; pilot testing is scheduled to begin next month in May.
