Phone companies, Paymark inch closer to mobile payment system
Vodafone, 2degrees and Telecom and Paymark (which handles most Eftpos and credit card transactions) have inched close to a workable mobile payment service.
The four companies say they intend to form a joint venture to launch a trusted service manager (TSM) which will allow people make secure payments, collect loyalty points and use public transport with their mobile phones.
Setting up a neutral TSM is a positive development.
But there is still a raft of factors holding back mobile payment technology, including the small number of smartphones that support Near Field Communication (NFC) technology for "touchless" payments, few compatible terminals, addressing security issues, and commercial arm wrestling to come over who clips the ticket on transactions.
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Comments and questions3
This technology is going to be great for many reasons... however the POS (or as I call them Piece of S**t) solutions will destroy any transational speed benefits which along with security has got to be one of the major advantages. These vendors need a kick in the till. Last night I was at a major petrol station buying milk and I had to ask the attendant if the shuttle was clear for launch. How many key strokes does it take to transact some cow juice? Another example of how IT continues to fail business, especially in NZ.
Perhaps you should look at http://www.vendhq.com/.
Taking the S#%t out of POS, one squat at a time!
http://www.welovepos.com/
It does make sense to do something like this considering the current employment situation. I personally decided it is time to work from home to supplement my income.