Electronic payment company Paymark has secured a ticket company as its second online eftpos retailer in an effort to revive the payment option.
iTICKET customers can purchase tickets to events online with only their mobile number through ASB’s banking application.
iTICKET’s chief executive Reece Preston said the service was aimed at customers who did not have a credit card or did not want to use one.
The app would take money from the customers’ bank account instantly, without charging a transaction fee.
Retailers pay a processing fee for debit card payments and customers have to pay a fee for each purchase they make with their credit card.
iTICKET offered mobile banking transfer payments but it took at least one day for the money to be received, Preston said.
He said he hoped the latest online payment option would lift ticket sales.
While ASB was the first bank to offer the service “we definitely want to see other banks jumping on board and following suit”, Preston said.
Paymark spokesman Paul Brislen said it was in talks with all the major banks who wanted to develop an app.
Brislen said banks traditionally had not given eftpos the support it deserved, but the rise of Apple pay and Google pay showed consumer demand for fast and easy payments.
Online payment was Paymark’s “saving grace” to keep eftpos relevant in a “post plastic world”, he said.
He said the partnership with iTICKET was a good fit because tickets fitted the anti-credit card market where transactions were typically less than $100.
– MADISON REIDY