Common Infrastructure Expected To Drive M-Commerce In Singapore
Singapore, 30 July 2001 -- Singapore's three mobile operators, MobileOne (M1), SingTel Mobile and StarHub Mobile, today announced a joint collaboration to work together with industry partners to facilitate the development of a common nation-wide Mobile Payment Solution, in response to IDA’s mobile payments Call for Collaboration exercise1.
A vital enabling component of any mobile commerce infrastructure - a common Mobile Payment Solution, which can be easily implemented by mobile operators, vendors and merchants alike - promises great benefits to end-consumers. It is expected to fuel growth and enable Singapore to lead in m-commerce.
This common payment platform will prove to be cost-effective for the merchants to connect to the m-commerce environment, as they do not need to invest in separate integration systems with each mobile operator. Furthermore, this platform will create a bigger customer base for both operators and merchants, creating a win-win situation for all.
"This is a landmark collaborative effort undertaken by the three mobile operators and will be a key facilitator for the growth and future viability of m-commerce in Singapore. M1 fully supports this initiative and will by its active involvement, ensure that the partnership works. We regard the creation of a common mobile payment platform as fundamental to harnessing the full potential of m-commerce for all parties involved in the process. It will also contribute to a positive customer experience and that, ultimately, will determine the degree of success that m-commerce will enjoy in Singapore," said Mr Neil Montefiore, Chief Executive Officer of M1.
Mr Lucas Chow, CEO of SingTel Mobile, said, "SingTel Mobile takes pride in continuously creating great value for our customers and introducing leading edge mobile services in Singapore. We are very pleased to play a role in the collaboration that will help to set a common standard for mobile payment. This initiative will re-characterize the mobile competitive field and benefit mobile users in Singapore. Our effort will focus on working with partners who are committed to simple, secure and inexpensive solutions that exceed customer expectations".
Said Mr Chan Kin Hung, Vice-President, StarHub Mobile, "StarHub Mobile is pleased to play an important role in this vital initiative which will create a common mobile payment platform in Singapore. This partnership reflects the openness and maturity of the three local mobile operators and redefines the competitive landscape for m-commerce. 'Co-opetition' is key to creating more value for the consumers and new opportunities for the industry players."
"Once implemented, consumers will be able to use their mobile devices to choose their preferred payment mode for almost any desired service. Vendors and merchants will also enjoy a more conducive environment from which new and innovative services can easily be built and integrated. We believe this initiative may be one of the first in the world," Chan added.
All three mobile operators will work closely to jointly evaluate, test and ensure the operational, commercial and technological viability of the proposed mobile payment solutions.
Interested mobile payment solution providers may form consortiums or likewise to offer an end-to-end solution covering payment mechanisms, financial arrangements and merchants in their proposal. Evaluation criteria include the provision of an open standard, security, scalability, end-to-end solution and payment in multiple ways. Proposals are due in August 2001 with trials expected to begin in October 2001.
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Issued jointly by MobileOne, SingTel Mobile and StarHub Mobile
Note to Editor:
1 IDA issued its first Call for Collaboration (CFC), on 22 May this year, for proposals to develop mobile payment systems. The CFC exercise seeks to rally wireless industry players in proposing wireless pilots and trials to address specific applications or needs of a vertical sector. This CFC seeks to accelerate the development of a vital enabling component of mobile commerce infrastructure - mobile payment systems.