ANZ Bank trials offline NFC payments via smart card

ANZ is working with two universities to pilot offline CBDC payments via smart cards that can be loaded with funds and used like physical cash. The pilot will take place on the campuses of Southern Cross University and RMIT University.

As part of the pilot, participating students will be issued NFC-enabled smart cards preloaded with CBDC funds.NFC-enabled smart cards or NFC card is a card embedded with microchip and antenna, frequency: 13.56MHZ, it can store data such as website address, product ID and business card information. Often used for access control: games, payments, social media sharing, etc.