Singapore Cashless payment with NFC Card
I am developing a proof of concept system to allow cashless payment using any NFC card, such as the transit card.

This is for small retail outlets, e.g. hawkers, etc.

The customer tops up the NFC card using PayNow. This goes into a separate wallet that is linked to the NFC card.

The retailer uses a mobile phone with NFC reader (cost $500 for a new phone). The phone runs an app that can read the UID of the NFC card.

The retailer enters the amount into the app, and the customer taps with the NFC card. The amount is deducted from the wallet of the customer and credit to the wallet of the retailer. 

The retailer can transfer the collection from the wallet to his bank account using Pay Now.

The cost of transaction is $0.02 (following the rate charged by AliPay and We Pay). 

The retailer does not need to handle cash or give change. This improves hygiene and saves time. 

Tan Kin Lian




 

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