Visa's Virtual Wallet
Visa and ANZ have begun a trial of a contactless mobile phone payment application. Participants have been given a special protective iPhone case with a secure microSD memory card that allows them to turn their phone into a virtual wallet.
During the trial, participants will be able to make payments by simply waving their phone in front of a contactless reader. The ground-breaking venture was revealed by MediaLink Productions with an upbeat web clip uploaded to Visa's website and YouTube. It also went to air across Channel Nine and Ten News, Today Tonight and the Today Show.
How does it work? A customer's card details are embedded into a specially designed iPhone cover. A transaction is as simple as waving the mobile phone past a Visa payment scanner.