Fifty staff in the Sydney and Melbourne offices of ANZ and Visa have been given an iPhone case containing an NFC-enabled microSD card, supplied by DeviceFidelity, that allows them to turn their phone into a virtual wallet.
The staff will be able to make payments of up to A$100 (US$100 approx) using a prepaid ANZ account stored on the microSD card at any merchant equipped with a contactless payment terminals. Some 20,000 retail outlets in Australia currently have the technology installed.
ANZ's Sam Qubrosi said: "This is all about making banking simpler and more practical for our customers. Mobile contactless payment is the next step in this evolution and we're excited to be breaking new ground with this trial."
Visa country manager Vipin Kalra said the trial marked the start of a new phase for payments in Australia, adding the possibilities of the near field communication technology were "endless".
"There's no doubt that mobile Visa payWave will be the way of the future and I'm sure that the participants will find mobile payments to be a convenient and easy replacement for cash, ideal for fast, simple transactions," he said.
"The possibilities with mobile are endless, your mobile could allow more than just payments — you could manage your account, detect fraud and receive real time offers from merchants.
"Your mobile could become the new virtual wallet — it's in the future but that's definitely where we're headed."
All Visa payWave transactions, including those initiated by a mobile phone, are backed by both Visa's Zero Liability protection and ANZ's Fraud Money Back Guarantee, ensuing cardholders are not liable for any unauthorised transactions provided they report problems promptly to their bank or card issuer. The technology also allows for the payment application to be quickly deactivated if the phone is lost or stolen.