|WITH Singapore’s efforts to promote payments via mobile phones slow to get off the ground, a local firm is dialling overseas to exploit the market potential of this emerging technology.
Following the success of earlier trials, Cassis International is working with a Malaysian operator on the commercial rollout of its mobile wallet initiative, according to company CEO Chua Thian Yee. This comes on the heels of a similar deployment for Korea’s SK Telecom (stock quote: SKM)in 2007.
The homegrown tech upstart, formed in 2002 by a group of executives from the smartcard industry, plays an integral role in realising the payment promise of near field communication (NFC), the technology that is being used to allow consumers to tap and pay for purchases with their handsets.
This is because Cassis provides the solutions needed to allow financial services players to securely distribute credit-card and other payment applications over the air to NFC-enabled mobile phones. By loading the relevant applications, the phone can be used to pay for everything from train rides to burgers and movie tickets.
Cassis was roped in for all the NFC trials that were sanctioned by Visa International(stock quote: V), and is the only Asian firm on the payment provider’s international mobile payment platform consortium.
Helped by the two overseas projects, the firm is expected to maintain its revenue growth at 30 per cent in 2008, but its big break could come within the next year with more commercial rollouts around the world.
‘2009 will be a big year for us,’ Mr Chua told BizIT in an interview on Tuesday, without disclosing details of the deals in the pipeline.
To tackle its overseas projects, the company currently has a team of 70 staff across Malaysia, China, Korea, France, and its headquarters in Singapore.
While inter-operability and fragmentation issues dogged earlier attempts to promote mobile payments, Mr Chua is confident that the outcome will be different this time around with NFC.
Instead of loading credit-card applications into the chip of a plastic card, the data is instead sent over the cellular network to an NFC handset. There is no need to replace existing payment terminals, Mr Chua stressed.
‘NFC uses a standard that has already been established. It’s not about introducing new equipment but merely using another form factor (the mobile phone instead of a plastic credit card) to pay using the same transaction terminal,’ Mr Chua said.
While telcos in countries such as Japan and Korea have introduced mobile payments, local operators here are just starting to dip their toes into the fledgling technology.
Source Business Times 20 Oct 2008
Guys, Finally, I am starting up a new organisation. My first event is on this coming Saturday. Please see below.
Want to be in tune with the latest hype in the wireless scene? Then join us @ TAWA Networking Forum
Technopreneurs’ Association of Wireless Applications (TAWA) was set up in 2008 with the main objective of promoting the wireless sector in Singapore. TAWA aims to provide companies, academia, aspiring entrepreneurs and prospective investors focusing on the wireless technologies a common exchange platform through a series of industrial sharing sessions and social networking activities.
TAWA Networking Forum is a series of high-tea style networking event whereby young professionals and students passionate about wireless technology will come together to share their knowledge and opinions on trends and issues in the wireless sector. The main objective of the TAWA Networking Forum is to foster stronger ties between education institutions and the private sector.
Details of the event:
Date: 27th September 2008
Time: 2.00 pm
Theme: Wireless Security in Singapore
Invited speakers: Mr Ken Chua, CEO of iCell Network
Mr Paddy Tan, CEO of BAK2u
Be ready to meet up with other enthusiastic, technology-savvy people and have a fun, fruitful networking session! See you there!
This is the opportunity that cannot be missed! Sign up for our first TAWA Networking forum here!
I need to tell Nicole that I can sell my butt review technology products! That is going to be my blog topic for this week.
We went to the EZY Technologies Product Launch @ Geek Terminal. Yes! EZY Technologies Announces its NoTouch External Storage Devices
(Above) This is the NoTouch NT2500 250G mobile hard disk.
The product is specifically designed for students, travellers, and mobile professionals who need to secure, protect and transport their digital files. Casing is included in the package.
So how portable is it? (See photos below)
Side view of the product
The storage solutions also come with:
- Automatic, continuous backup optional software that works in the background allowing peace of mind
- Synchronization and encryption of data
- LED activity light
- USB 2.0 powered & backwards compatible to USB 1.1
• 3-year limited warranty
I would like to thank Chris for inviting me to the event.
Guys, I walked past Raffles City this morning and got to see a display of F1 car. I believe it is a campaign held by several companies. BMW, Credit Suisse, Intel and Dell are one of the companies participating in this campaign.
I am not sure about this but I overheard some onlookers that there is a free photo taking with the F1 model on 22 Aug from 8pm to 10pm at Raffles City.
I intend to write an article on dentistry in Singapore and Blog2U has referred me to this dental clinic – TOOFDOCTOR. It is located at Tanjong Pagar Plaza, pretty near to Tanjong Pagar Station.
Unlike those boring clinic you see in the HDB, TOOFDOCTOR has done a terrific window dressing with vibrant colourful design in the clinic. Personally, I like this LEGO figures displayed in the glass cupboard.
After a short waiting, I entered Dr Diong’s room. It is another feeling. There is no fanciful design but the dental unit integrated with the Mac computer has been very prominent under the contrast of the simple and plain-designed room. Overall, his room gives a very pleasant, comfortable and professional ambience. I feel at ease lying on his integrated dental unit. Well, this is Dr Diong’s room. I got to know that there are different design themes for other rooms. You can view them at the TOOFDOCTOR website: http://www.toofdoctor.com.sg/Where_we_work.html.
Dr Diong has done a very detailed examination. Without any use of jargons, he explained the problems of your tooth with the help of diagrams and presentation slides. (Well, the slides presentation looks cool on a Mac computer!).
The diagram illustrated the problem of a sensitive tooth. (Yes!! That’s the problem I am currently facing) Dr Diong filled up the exposed area and I would need to use a desensitizing toothpaste to brush my teeth.
Overall, the dental experience with TOOFDOCTOR was good. The clinic used various forms of equipment to ensure that it delivers comprehensive treatment to the patient.
– A one-time consultation fee of $20/- for new patient.
– If you are going for half-yearly maintenance, the price of scaling and cleaning will range from $60 to $100.
7 Tanjong Pagar Plaza #01-106 Singapore 081007
Tel: 6221 1121 Fax: 6222 4681
COMEX 2008 comes just in time for me to buy a new portable hard disk. I am eyeing the 160GB Imation Apollo. It comes with the auto backup software (i am not sure whether it will work without the software installed. Still checking…)
COMEX will be held at SUNTEC City Exhibition Centre level 1, 2, 3, 4 & 6 from 28th – 31st Aug 2008. Anybody wants to come along with me?