Singapore carriers SingTel and M1 join country's NFC payment boom
Following Singapore wireless carrier StarHub's announcement of its NFC mobile payment service earlier this month, two other Singapore carriers have launched competing services.
M1 Limited today announced two mobile payment programs using NFC, a prepaid MasterCard and a co-branded effort with Singapore's transit system EZ-Link. Additionally, Singapore Telecommunications Ltd., or SingTel, announced its own NFC mobile payment program with EZ-Link.
All three products from Singapore's wireless carrirs will give users the ability to pay for purchases simply by tapping their NFC-enabled phones on contactless point-of-sale terminals.
Singapore's Infocomm Development Authority, the regulatory body that oversees technology and communications efforts in that island nation, has been pushing adoption of NFC services through a consortium of mobile operators, banks and third-party service providers. With the launch of SingTel and M1's mobile payment products, Singapore's three main wireless carriers are now all providing NFC-enabled payment programs.
"This is a major milestone for mobile payments and our customers can look forward to more NFC-based products and services in the future to enhance their connected life and work", said P. Subramaniam, CMO for M1.
Gan Siok Hoon, SingTel's VP of m-commerce, said her company's NFC solution is just the beginning of what the company will unveil. "We will progressively launch differentiated services that enhance our customers' lifestyles and provide them with a unique mobile commerce experience, ranging from payments to value-added services," she said.
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