NETS, SingTel and UOB Launches Near Field Communications (NFC) Public Trial

mNETS Coupons launched in conjunction with six-month long trial for participants to try Real-Time Coupon Redemption System

Singapore, 6 August 2008 – Singapore’s leading electronic payments provider, NETS, together with SingTel and United Overseas Bank Ltd. today announced the launch of a six-month trial which will enable Singaporeans to make payments using their mobile phones. The trial using Near Field Communications (NFC) commences immediately.

This public trial, involving 250 specially invited SingTel-UOB credit cardholders, aims to provide customers with smart, savvy and innovative solutions, allowing NETS and SingTel to be at the forefront of the mobile payment technology revolution. The aim of the trial is to allow NETS and SingTel to assess how consumers will use and adapt to this technology.

The key highlight of this trial is the innovative and convenient way for the participants to redeem coupons. Users simply open the coupon on their phones and flash it on a NETS FlashPay reader for the coupon to be automatically redeemed. NETS is the first in Asia to offer such an intuitive way of redeeming a coupon. The patent for this real-time coupon redemption feature by NETS is pending.

Commenting on the public trial, NETS’ Chief Executive Officer, Ms Poh Mui Hoon, said, “NETS endeavours to offer the best-in-class in payment services to its wide user base to deliver smart, savvy and innovative solutions. The use of mobile phones as a payment device will give people a new perspective and user experience in making payments. In this regard, NETS is pleased to introduce mNETS Coupons to Singaporeans and is confident that users will benefit immensely from this technology. This public trial will enable NETS to stay at the forefront of payment technology and create a sustainable eco-system for mobile phone-based payments.”

“These days, mobile phones are so much more than just a communication device, and extending their use to mobile payments in a logical step forward,” said Mr Quek Peck Leng, SingTel’s Executive Vice President of Consumer. “SingTel believes in bringing value and innovation to our customers and we are very excited to be part of this trial, which we are certain will set the standard for the payment methods of the future.”

NFC is a wireless industry standard that allows mobile phones to communicate with other electronic devices. This turns the mobile phone into an electronic wallet for making contactless payments. Centred in the Ang Mo Kio Hub area, 15 participating merchants will be offering exclusive offers to the participants in this trial. These merchants include Bengawan Solo and Cathay Cineplex, and more will be brought on board.

The mNETS Coupon is a convenient way for merchants to offer consumers discounts, promotions and other privileges, as users can simply download electronic coupons to their mobile phones to start enjoying discounts and other privileges from participating merchants. The mNETS Coupon is made possible through a collaborative effort with industry players including Singapore Polytechnic, NXP and ViVOtech.

Both Singapore Polytechnic and NXP provided invaluable expertise to ensure that merchants can market their promotions effectively so that trial users can access and download these promotions in a safe, timely and secured manner. “SingTel recognises the value of collaboration, the need to tap expertise and foster good relationships with players in other industries as we enter a new business”, said Mr Quek.

This public trial is a follow up of the September 2007 staff trial by SingTel and NETS that introduced the mNETS payment application (mNETS Wallet) and the mNETS Coupon application on NFC-enabled mobile handsets.

Participants of the public trial will also be able to make payments at more than 500 participating merchants island-wide who accept mNETS for payments. Users pay for goods and services easily by flashing their mobile phones at the NETS FlashPay readers at participating shops.

Participation in the NFC public trial is free-of-charge. SingTel and NETS will loan customers an NFC-enabled Nokia 6131 phone that functions as an mNETS Wallet. The SingTel-UOB credit card will be the default mode for topping up the stored value in the trial phone. There are no transaction fees or surcharges for purchases, and for top-ups using the SingTel-UOB credit card.