SingTel and Visa have announced a strategic alliance that will enable consumers in Singapore and Australia to pay for goods and services using their smartphones at all Visa payWave acceptance points worldwide.
Visa is working with SingTel to link Visa prepaid accounts to mCash, SingTel's mobile money solution. Planned for launch in early 2014, the service allows mCash customers to wave and pay with their NFC-enabled smartphones for daily necessities such as coffee, fast food, groceries and movie tickets at Visa payWave acceptance points. There are currently more than 12,000 Visa payWave acceptance points in Singapore and over 100,000 across Australia.
Payments will not be limited to Singapore and Australia, and will extend beyond NFC transactions. Customers will also be able to make eCommerce purchases online by entering their Visa prepaid account number linked to their mCash account.
Ms Gan Siok Hoon, SingTel's Vice President for mCommerce, said: "SingTel is excited to broaden the capabilities of mCash with Visa payments in our push towards a cashless society. With Visa's extensive network, cashless payments will be even easier and more convenient for our customers. From indulging in retail therapy to paying for meals and entertainment, a mobile phone will truly be all that you will need for a day out. This Visa alliance further cements the role that the mobile phone plays as an all-in-one tool for commerce, information, entertainment and lifestyle needs."
Ooi Huey Tyng, Visa Country Manager, Singapore and Brunei, said: "This alliance with SingTel demonstrates Visa's commitment to driving the evolution of mobile payment services in partnership with major multinational Mobile Network Operators in developed and emerging markets. This alliance will deliver more mobile payment solutions to some of our key developed markets in Asia Pacific, backed by the security, trust and global acceptance the Visa brand represents."