Singapore on the cusp of becoming an NFC-enabled nation; thousands of ...
SGentrepreneurs (press release) Gemalto, a global digital security company that is leading an NFC consortium in Singapore, has announced that it is finally ready to launch a slew of NFC-enabled mobile payment services. The consortium, which consists of Citibank, DBS, EZ-Link, and all ...
Gemalto, a global digital security company that is leading an NFC consortium in Singapore, has announced that it is finally ready to launch a slew of NFC-enabled mobile payment services.
The consortium, which consists of Citibank, DBS, EZ-Link, and all three mobile operators in Singapore — M1, SingTel, and StarHub, is supported by the Infocomm Development Authority of Singapore ( IDA).
If you’re hazy on what NFC is, it is essentially a technology that, among other uses, turns smartphones into mobile wallets. It essentially eliminates the need to bring out physical wallets and credit cards.
The technology, however, is complex and has many moving parts, hence the need to set up a consortium to develop the necessary infrastructure and ecosystem. About US$40M in total will be pumped in by the consortium and IDA to develop the infrastructure. Gemalto itself is responsible for developing a secure, unified, and comprehensive third-party infrastructure for NFC services.
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