Wednesday, 13 August 2008

S’pore Launches NFC Public Trial

Singapore has officially kicked off a six-month Near Field Communications (NFC) trial which will see electronic payments provider, NETS, working together with SingTel and United Overseas Bank to allow Singaporeans to make payments using their mobile phones...

Singapore has officially kicked off a six-month Near Field Communications (NFC) trial which will see electronic payments provider, NETS, working together with SingTel and United Overseas Bank to allow Singaporeans to make payments using their mobile phones.

NFC is a wireless industry standard that allows mobile phones to communicate with other electronic devices essentially turning the mobile phone into an electronic wallet for making contactless payments.

The aim of the trial according to NETS and SingTel is to assess how consumers will use and adapt to this technology.

“These days, mobile phones are so much more than just a communication device, and extending their use to mobile payments in a logical step forward,” said Mr Quek Peck Leng, Executive Vice President of Consumer, SingTel.

A key highlight of this trial is the mNETS Coupon initiative. Users simply open the coupon on their phones and flash it on a NETS FlashPay reader for the coupon to be automatically redeemed.

Merchants also benefit from the mNETS Coupon as it’s an innovative way for them to offer target customers discounts, promotions and other privileges.

The patent for this real-time coupon redemption feature by NETS is currently pending.

“The use of mobile phones as a payment device will give people a new perspective and user experience in making payments…This public trial will enable NETS to stay at the forefront of payment technology and create a sustainable eco-system for mobile phone-based payments,” said Ms Poh Mui Hoon, Chief Executive Officer, NETS.

This public trial is a follow up of the September 2007 staff trial by SingTel and NETS that introduced the mNETS payment application (mNETS Wallet) and the mNETS Coupon application on NFC-enabled mobile handsets.

Participation in the NFC public trial is free-of-charge. SingTel and NETS will loan customers an NFC-enabled Nokia 6131 phone that functions as an mNETS Wallet.

The SingTel-UOB credit card will be the default mode for topping up the stored value in the trial phone.

There are no transaction fees or surcharges for purchases, and for top-ups using the SingTel-UOB credit card.