The consortium will be rolling out three credit, prepaid and stored-value payment services through NFC-enabled mobile phones in the coming weeks, with respective partners announcing the launch details of their specific services including how consumers can apply for and make use of these NFC services.
The NFC infrastructure allows consumers to aggregate multiple payment services from different banks and payment product issuers into a single mobile wallet, giving them easy control of which payment product to use for a specific purchase. As consumers may have multiple banking relationships and want different products to be loaded on their NFC phones, customer care support processes starting from payment product application, activation to product termination have been harmonised across participating banks/ telcos to provide a consistent user experience.
At service launch, consumers will be able to use their NFC-enabled mobile phones to tap and pay at over 30,000 retail points already equipped with contactless POS terminals.
A number of NFC handset models from Samsung and Sony have been certified for use with the suite of services to be launched. More NFC handsets will be offered by the mobile operators in the coming months.
Though the deployment is focused on retail payment at the start, IDA and the consortium members are working with the Land Transport Authority (LTA) to assess NFC mobile payment readiness for public transport ticketing in early 2013. As part of the preparation, a public trial will be conducted by EZ-Link in end 2012, in partnership with public transport operators.
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