Singaporeans could be using their cell phones, instead of their ez-link card or Nets Flashpay Cards, to gain entry into train station or pay for their meals and groceries in more than a year’s time. That would happen when a new wireless standard known as near field communication rolled out in Singapore.
The Government announced that it will appoint a consortium to lead the building of such a national platform for mobile payments. Key to the consortium will be a company known as a trusted third party which will build and operate the NFC payment infrastructure. The trusted third party will work with two types of partners, telco’s like SingTel and StarHub and card issuers like banks to roll out the mobile payment system by 2012.
This article appeals to me because it surprises me how technology has advanced. Mobile phone used to be a device used only for communication. Now, mobile phone is not only used for communication but also a device for games, surfing the net and can even be used for payment in a year’s time.
If I am in charge of the situation, I would make sure that the company that operate the mobile payment infrastructure can be trusted so as to prevent any problem that will happen when using the mobile payment system.
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