PAYING for a fixed dishwasher or fridge on-site has become a step easier thanks to a free iPhone application by ANZ Bank.<\/p>\n
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.<\/p>\n
Dubbed ANZ ePOS Mobile, the application can process on-the-spot credit and debit card transactions at a customer location.<\/p>\n
Credit card details such as expiry date and card verification code are encrypted and no customer data is stored on the iPhone.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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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.<\/p>\n
ePOS Mobile accepts credit cards from all financial institutions but during the trials a limit of $1000 was set, Mr Dalton said.<\/p>\n
Spruiking the security features of the application Mr Dalton said if an iPhone is stolen the bank can remotely cancel a transaction.<\/p>\n
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.<\/p>\n
“We’re trying to deliver banking solutions that make things faster and simpler for our customers,” he said.<\/p>\n
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.”<\/p>\n
A mobile suit tailor and mobile car detailer are also testing ePOS Mobile .<\/p>\n
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.<\/p>\n
“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.<\/p>\n
Mr Dalton’s 22-person team is also working to enhance products for internet banking and other platforms such as the Apple iPad.<\/p>\n
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