Tap and pay for purchases with mobile phones at end of August
Published on Aug 3, 2012 4:14 PM
From the end of August, consumers can pay for purchases at retail outlets and taxi fares with mobile phones that are equipped with near field communication (NFC) capabilities.
NFC is a short range wireless communication technology that transmits data between a mobile device and a reader.
The transmitted data can either be an advertisement or payment info.
The new payment service, which is developed by a consortium that includes Gemalto, EZ-Link, DBS, Citibank, SingTel, StarHub and M1, effectively turns your mobile phone into a wallet, which comes with credit, pre-paid or stored-value payment options.
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