26 Oct '11, 2am

2012 could be a big year for NFC in Singapore

2012 could be a big year for NFC in Singapore

2012 could be a big year for NFC in Singapore October 26, 2011 by Terence LEE NFC could soon replace your wallet. Photo: Tom Purves Singapore may become one of the first nations in the world to see widespread adoption of near-field communication as a payment mode, if this report by Channel NewsAsia is accurate. Up to 20,000 retail points and taxis may be NFC-enabled by middle of 2012, the result of a S$40 million (US$31 million) investment by the Infocomm Development Authority of Singapore and seven other companies. They are: Mobile operators M1, SingTel and StarHub, payment service providers Citibank, DBS and EZ-Link, as well as Gemalto, a digital security company. NFC is a technology that functions like Bluetooth, except that it works almost instantaneously and does not require one device to be ‘linked’ to another. By tapping an NFC-enabled phone with another similar pho...

Full article: http://sgentrepreneurs.com/news-stop/2011/10/26/2012-coul...

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