Telcos and banks champion NFC in Singapore

In Singapore you may be able to pay for your purchases by tapping your mobile phone at more than 20,000 retail points and taxis by mid-2012.

This NFC-enabled service is made possible through a consortium which was set up after the Infocomm Development Authority (IDA) of Singapore made a Call-for-Collaboration with industry players to set up a nationwide NFC infrastructure in 2010.

IDA decided to award the Call-for-Collaboration to a consortium comprising seven companies.

The companies include the three mobile operators - M1, SingTel and StarHub - and payment service providers Citibank, DBS and EZ-Link as well as Gemalto, a digital security company which serves as a neutral third party linking up the payment service providers to the telcos.

IDA and the seven companies will invest S$40 million on the NFC infrastructure to reach out to all mobile subscribers in Singapore.

    Share Story:

Recent Stories


From CapEx to AI: Understanding the evolving cost structure of retail technology
This Retail Systems webinar, sponsored by Aptos, brings together leading voices from across the retail technology ecosystem to examine how modern PoS has transformed the cost ownership model – and how the emergence of agentic commerce is poised to rewrite the rules once again.

Beyond Channels: Redefining retail with Unified Commerce
This Retail Systems fireside chat with Nikki Baird, Vice President, Strategy & Product at Aptos will explore how unified commerce strategies enable retailers to tear down these barriers and unlock new levels of operational agility and customer satisfaction.

Advertisement