Tap and pay for purchases with mobile phones at end of August
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.