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Singapore to launch mobile payment services
Source: http://www.futuregov.asia/
Source Date: Monday, November 29, 2010
Created: Dec 02, 2010

By 2012, Singaporeans will be able to pay for some public services as well as buy consumer goods using their mobile phones.

The Infocomm Development Authority of Singapore (IDA) issued a call for collaboration with the industry on November 18th to develop a platform for mobile payment services.

The CFC is part of IDA’s Next Generation e-Payment Programme, which aims to accelerate the adoption of mobile payment services using near field communication (NFC) technology, which enables location-based transactions.

According to IDA, the project will establish “a secure, interoperable and scalable NFC infrastructure that provides an open and cost effective means for service providers to provide NFC mobile services to any mobile subscriber.”

In February 2009, IDA, Monetary Authority of Singapore, Land Transport Authority, Ministry of Finance and 11 key industry players from mobile operators, banks and payment service providers, agreed to collaborate on an interoperable NFC mobile payment system through a Trusted Third Party (TTP) infrastructure.

The TTP will connect banks, payment providers and other service providers to mobile operators, allowing mobile users (Singapore’s mobile penetration is around 137 per cent) to access any service regardless as to which mobile provider they are contracted with.

It also eliminates duplication of infrastructure and satisfies the trust requirements of all parties for secure NFC services, starting with payment services, IDA explained.

Since November last year, IDA has been laying a network of contactless payment terminals in public areas and retail outlets across Singapore. The authority has also established an over-the-air framework and standards for NFC devices.

The CFC will close on February 1st 2011 and awarded in May or June 2011.

Implementation is expected to take up to eight months, with launch targeted for the first quarter of 2012, together with at least two NFC mobile payment services.

A further three NFC mobile payment services and three value-added NFC services will be rolled out within 12 months of the initial launch.

IDA has set a target of 30,000 NFC subscribers within two years.

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