04 Aug '12, 8am

First tap-and-pay services emerge in Singapore, but issues remain

First tap-and-pay services emerge in Singapore, but issues remain

Years after mobile payment was first mooted as a new way to pay for things, Singapore users will finally be able pay for taxi and train rides and shopping items by simply tapping their phones on any of the 30,000 retail points that already accept such the near-field communications (NFC) technology. On Friday, a group of banks, transit companies and telecom operators here introduced a number of mobile applications that promise to make payment much easier. The idea is to make the phone a digital wallet that contains the information on the credit cards and stored value cards you have now, which can be accessed when you tap it against a supported reader. Citibank, DBS, EZ-Link and the three local telcos, part of a consortium partly funded by the government, say the first payment services will be available from the end of this month (read our commentary on their plans last year...

Full article: http://www.techgoondu.com/2012/08/04/first-tap-and-pay-se...

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