New Zealand-based mobile wallet company Semble has decided to discontinue its current mobile payment service following a strategic review of the business.
Launched in March 2015, the project is jointly owned by Paymark, Vodafone, 2degrees and Spark. It was signed up by New Zealand banks ASB and BNZ.
The company in a press statement said it now aims to “refocus the business to develop and build new services.”
Semble CEO Rob Ellis said: “Mobile payment services haven’t had the speed of uptake and usage we expected due to a variety of reasons. These include low levels of consumer awareness of mobile payments and relatively low volumes of contactless terminals, especially outside the major retail brands, although contactless transactions in general are growing.
He said while this is disappointing for all parties, Semble will continue to operate as a business and Semble and its partners remain excited about the future and what’s to come. Payments were envisaged to be one of many mobile wallet services, and the company is now preparing for the next phase of product development and growth.
“We’ve learned a great deal over the past couple of years, technology has evolved and we’re currently planning to extend our capability to include a more flexible, modular and future proofed technology platform which offers kiwi businesses easy integration into their own and third party mobile apps to deliver a range of wallet services,” Rob said.
The ‘Snapper in Semble’ service will not be available to new customers as a result of the decision. However, the company added existing customers can continue using the functionality on their phones for the foreseeable future.