Is payment security slowing mobile commerce in Singapore?

nfc, mobile payments

Singaporeans may be familiar in using credit cards and EZ-Link cards for payments but what about using mobile phones to make payments?

While some are excited about the new mobile commerce services, some are having doubts about its security – as reported by Mobile Commerce Press. Much attention is drawn to the security of the use of the NFC-enabled SIM cards. However, Gemalto, an international digital security company, assured that no essential security dangers exist in the NFC technology. In addition, banks in Singapore that are involved in the Singapore's mobile commerce platform have also stepped up their security by introducing a daily spending limits system to minimise the financial impact in a case an NFC-enabled mobile device is stolen.

The consortium including DBS Bank, Citibank, SingTel, EZ-Link, and others has given their best in creating the necessary security features to protect the consumers and subsequently, consumers also have a part to play in protecting their own devices. In addition, campaigns have been launched to educate the consumers regarding the mobile commerce services as it continues to introduce across the country.

Are you excited about this up-and-coming technology that will be fully rolled out in Singapore soon? Visit us at Near Field Communication World Asia 2013 from 24 – 25 April in Singapore to find out more!

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