Mobile phone technology looks set to retire the traditional wallet.
Starting next year Auckland Transport, Telecom and Westpac will begin trialing mobile phone technology that will allow users to bank, negotiate public transportation, shop and top up mobile phone accounts without the usual reliance on plastic or cash.
The trial will see 30 plus participants test the new mobile wallet technology at contactless point of sale terminals across Auckland Transport’s network and top up their Telecom mobile accounts.
Telecom’s chief product officer Rod Snodgrass, at press conference Tuesday announcing the new technology, said the mobile wallet would be able to "hold multiple cards and secure applications, providing a fast, convenient and safe way to purchase goods and services.”
Westpac's chief information officer Peter Fletcher said mobile phones were fast replacing traditional buying models and methods.
“Over the next 3-5 years, mobiles will become our customers’ key banking tool for transactions, product research and other banking needs," said Fletcher.
Auckland Transport chief operations officer, Greg Edmonds, said “mobile phone technology will form an important part of the mix of payment options for transport services in the future. We look forward to the introduction of this technology providing further choice for commuters in the way they pay for transport.”
The experiences of the mobile users participating in the trial will be used to improve upon and build up "the proof of concept' even further, the developers noted.