SingTel, Visa tie up for smartphone payment service in Singapore, Australia
SingTel and Visa today announced a strategic alliance that will enable consumers in Singapore and Australia to pay for goods and services using their smartphones at all Visa payWave acceptance points worldwide.
Visa is working with SingTel to link Visa prepaid accounts to mCash, SingTel's mobile money solution.
Slated for launch in early 2014, the service will allow mCash customers to wave and pay with their NFC-enabled smartphones for daily necessities such as coffee, fast food, groceries and movie tickets at Visa payWave acceptance points.
NFC, short for near field communication, is a wireless connectivity technology that enables convenient short-range communication between electronic devices.