ASB Launches Mobile Facebook Payments

In ASB’s updated version of its mobile app, customers can now make P2P payments directly to their Facebook friends.

The ASB app allows customers to pay Facebook friends in seconds with just a couple clicks, regardless of whether their friends are ASB customers or not. The sender must be an ASB online banking customer however.

ASB has over NZ$60 billion in assets (nearly USD$50B) and 1.2 million customers. That means one out of every three people in New Zealand (population: 4.4 million) is an ASB customer. The bank has 54,425 ‘Likes‘ on Facebook — 4.53% of its customer base, or about one in every nine New Zealanders.

Collateral promoting ASB’s mobile banking application, cleverly disguised as iPhones.

“More than two million New Zealanders are on Facebook, and many of them are managing their lives through social media channels,” notes Anna Curzon, ASB’s GM/Brand Experience & Digital Channels.

ASB also made quite a splash with its Facebook Virtual Branch back in May 2011.

“Facebook initiated payments are another step towards a cashless society in New Zealand,” Curzon explains. “Mobile and online banking innovations mean customers no longer need to rely on the traditional wallet – they can instead use ‘the bank in their hand.’”

ASB says security is a top priority, and claims its mobile tools integrate the latest in encryption technology to minimize threats such as malware, phishing and hacking.

ASB Facebook payments that go unclaimed after 14 days are credited back to the payer.

The upgraded ASB mobile app is available on Apple and Android smartphones with a dedicated iPad version scheduled for launch later this year.

How To Pay a Facebook Friend

A new user must first download the ASB mobile banking app from the iTunes store. Once the app is running and the user is logged in, they select the “Pay/Transfer” tab from the main menu. The new “Pay Facebook Friends” button appears at the bottom. The first time a user selects this option, they will be asked to log-in to Facebook and approve the app’s privacy/access settings (this is a one-time event). Then the user selects a friend from their Facebook list, specify the amount, write a brief description and click the “Confirm Payment” button. Then the recipient receives a notification via Facebook, and the user gets an on-screen confirmation that their payment was sent.

How To Collect a Payment From a Facebook Friend

If a Facebook friend send you a payment through ASB’s mobile banking app, here’s how you collect. First, you’ll see a notification in your profile instructing you to visit the ASB Social Collect app within Facebook. You have to approve the privacy/access settings to continue. There you’ll see a list of all the payments you’ve received. You can select which one you want to collect. Then (and here’s where it gets a bit dicey) you have to enter your bank account number. ASB swears it’s a secure page. Press the “Collect Payment” button and a confirmation window pops up, giving you one last chance to “Continue,” followed by a “Success” message.

ASB’s Robust Mobile Banking Lineup

ASB is one of the few banks — not just in New Zealand, but worldwide — to offer a mobile banking lineup this robust. About the only thing that’s really missing (and this is a pretty big deal) is mobile check deposits. You can bet it’s coming soon. Nevertheless, ASB does offer some innovative mobile tools.

ASB Property Guide Application – This iPhone application is like a personal real estate agent, property analyst and home lender all combined into one.

Mobile Phone Service Payments – Users can pay off their mobile bill. All they have to do is TXT a message to Telecom or Vodafone and ASB will top off the account directly from the user’s account.

Pago Virtual Wallet – Pago is a PayPal-like service offering a simple and secure way to shop online, or send and receive money by TXT or web.

Online Banking via Mobile – Access a mobile version of FastNet Classic designed specifically for your smartphone (such as iPhone and Android devices), making banking on the go even easier.

Dedicated iPhone and Android Apps – ASB’s apps are tailored for the devices they run on, offering an improved experience over the traditional online banking system running on a smartphone.

TXT Banking – Real time balances, and transfer funds between ASB accounts — all by TXT message.

Mobile Alerts – Alerts on checking and savings accounts by TXT or email.

More Mobile Banking How-To Videos From ASB

ASB has a fairly thorough library of instructional videos on its mobile banking app:

  • How To Register for Mobile Banking
  • How To Check Your Balance With The Mobile Banking App
  • Sending Mobile Payments
  • Collecting Mobile Payments
  • Sending Payments Via Email

A light, friendly overview of ASB’s mobile banking experience that only takes a minute.

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