NFC on six months public trial (Singapore)Near Field Communications (NFC) is on trial for six months which will inturn bring about electronic payments provider for Singaporeans. To make payements using their mobile phones, NETS, working together with SingTel and United Overseas Bank on that note.
According to NETS and SingTel, aim of the trial is to assess how consumers will use and adapt to this technology. “These days, mobile phones are so much more than just a communication device, and extending their use to mobile payments in a logical step forward,” said Mr Quek Peck Leng, Executive Vice President of Consumer, SingTel. Highlight of this trial is the mNETS Coupon initiative. Users simply open the coupon on their phones and flash it on a NETS FlashPay reader for the coupon to be automatically redeemed.
Presently, the patent for this real-time coupon redemption feature by NETS is pending. “The use of mobile phones as a payment device will give people a new perspective and user experience in making payments. This public trial will enable NETS to stay at the forefront of payment technology and create a sustainable eco-system for mobile phone-based payments,” said Ms Poh Mui Hoon, Chief Executive Officer, NETS.
Trial includes:
- Participation in the NFC public trial is free-of-charge.
- SingTel and NETS will loan customers an NFC-enabled Nokia 6131 phone that functions as an mNETS Wallet.
- SingTel-UOB credit card will be the default mode for topping up the stored value in the trial phone.
- There are no transaction fees or surcharges for purchases.
