Bank launches new mobile payments platform
The National Australia Bank has launched a new mobile payments service that leverages NFC technology and QR codes. The service is called NAB Flik and is accompanied by a mobile application of the same name. The application is meant to provide consumers with an efficient way to participate in mobile commerce, allowing users to initiate mobile payments through a variety of methods. Australia is quickly becoming a very prominent market when it comes to mobile commerce and more of the country’s financial services firms are taking steps to engage mobile consumers more aggressively.
Application leverages QR codes and NFC technology
Using the NAB Flik application, consumers can initiate mobile payments by scanning QR codes or inputting the phone number, email address, or Facebook information. The application also supports NFC technology in order to accommodate those using NFC-enabled devices. These devices are still somewhat rare, making mobile payments services that rely on NFC relatively unpopular. The National Australia Bank opted to expand the availability of its application in order to get a wider range of people involved in mobile commerce.
Money transfers made more efficient
The application’s primary purpose is to facilitate money transfers between bank customers. The application can support a variety of payment options in order to make these transfers more convenient. QR codes, social networking information, email addresses, and other such data is used to identify those participating in money transfers. The National Australia Bank tested the application internally to ensure that its features were useful for everyday usage.
Mobile payments begin moving away from NFC
Many mobile payments platforms have been based on NFC technology, but this technology is not readily available in most mobile devices. Mobile commerce is, therefore, beginning to move away from NFC. QR codes and other such technologies are becoming prominent mobile commerce tools due to their high accessibility. Many platforms are likely to continue supporting NFC technology, but NFC is not likely to remain the dominant tool for mobile payments in the future.