Singapore: Citi's Tests payWave With Telco M1
Visa payWave credit applications came preloaded on the Nokia 6212 phones organizers handed out for free to trial participants. Users could tap to pay wherever payWave was accepted, which according to Visa, was more than 750 locations on the island. Trial was to last three months.
Trial helps demonstrates Citi’s interest in NFC, and will fit along side its earlier New York City PayPass trial and its more recent 3,000-phone trial in Bangalore, India. But to roll out in Singapore, the bank will have to comply with rules from regulator Infocomm Development Authority. The IDA is opening up the payment market and ensuring providers use standardized technology. Banks such as Citi can expect stiffer competition from contactless transit-fare collection schemes NETS and EZ-Link , which are more aggressively going after low-value cash transactions at the retail point of sale, the same type of transactions issuers are targeting with payWave.
* Trusted Service Manager: Defined loosely to include companies or other organizations securely distributing, provisioning and managing applications, generally over the air, on secure elements in NFC mobile phones; or licensing their platforms for this purpose.
N/A: Not available or not applicable.