Payments NZ, the organization responsible for overseeing New Zealand’s payments infrastructure, has published a set of rules and standards for mobile devices ahead of the planned rollout of NFC payments in the country later this year.
The Mobile Device Rules and Standards will “govern the mobile payments system and protect businesses and consumers” as well as “ensure the integrity, efficiency and security of mobile payments”, the organization says. “That means when telecommunications companies and banks launch new payment options for their customers, there is already an industry-agreed system in place.”
“The new rules help protect the credibility and security of domestic payments, which will give customers greater confidence to use the technology,” Payments NZ CEO Steve Wiggins explains.
“We’re confident the Rules and Standards will meet the needs of emerging technologies this year, as well as maintain the flexibility to respond to new developments in the rapidly evolving market. We’re now looking forward to seeing what the industry comes up with in terms of mobile payments.”