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From The Expert Corner

April 16, 2013

Report Notes Sign-ups for Singapore's NFC Are "Slow"

By Wayne Adam

In a recent report from the Ministry of Trade and Industry's Economic Survey of Singapore 2012, the number of mobile subscribers grew at a slower rate (4.0 per cent) compared with 2011 (6.4 per cent increase).

This information is reflected in a report in the Strait Times that notes since August of 2012, 15,000 users have upgraded to NFC-based SIM cards that enable mobile payments, and only half paid to upgrade their SIM cards to NFC, while the rest were given the cards as parts of promotions.

In addition, consumers who did not sign up stated they are waiting for NFC-based payments on public transport before upgrading to the technology.

In 2012, Singapore launched NFC-based services, a with the country’s three mobile carriers— SingTel, M1 and Starhub...Read More

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