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New Zealand carriers to form NFC venture with payments provider

Vodafone, 2degrees and Telecom New Zealand have partnered with the operator of the country’s debit card and ATM networks to introduce a central TSM platform that will allow the carriers to “continue to compete vigorously for customers by developing their own innovative services on top of the open platform infrastructure provided by the TSM”.

Paymark

PAYMARK: Working with telcos to create an NFC ecosystem which is open to all

New Zealand’s three mobile network operators have announced plans to create a central TSM service to bring NFC to the country in partnership with bank-owned payments platform provider Paymark, which operates New Zealand’s ATM and debit card networks.

Vodafone New Zealand2degrees and Telecom New Zealand plan to form a joint venture company with Paymark that will allow subscribers to make secure payments, collect loyalty points and pay for public transportation with their mobile phones.

The aim is to create an ecosystem which is open to all, say the partners. “The TSM is being built with the intention of providing one open-access solution for the New Zealand market, to help encourage widespread consumer uptake and avoid customer confusion.”

Within the telco space, “Telecom, Vodafone and 2degrees will continue to compete vigorously for customers by developing their own innovative services on top of the open platform infrastructure provided by the TSM.”

This collaborative approach to developing the NFC ecosystem will mean quicker development of new and innovative services delivered in a seamless way to customers, while lowering costs and simplifying the process for merchants, say the partners. New Zealand’s payments industry has a history of successfully building shared infrastructure through collaboration, and this new joint venture plans to emulate that success for the next generation of technology, they add.

“It’s the first time this particular mix of organisations has come together to provide a centralised TSM which will offer world-class, yet low-cost infrastructure — something New Zealand is well-known for around the world,” says Simon Tong, CEO of Paymark. “Our priority is to ensure that the technology adheres to the most rigorous global standards so that customers have a great and safe experience with the applications provisioned using the technology.”

“Over the past decade, our mobile phone has swallowed our newspaper, our map and our camera to become an essential all-in-one device,” adds Eric Hertz, CEO of 2degrees. “The logical next step is to make it even more convenient by having it swallow our wallet, and making it the only thing you need to grab when you leave the house in the morning.”

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