C-SAM secure mobile transactions technology and StarHub info-communication announced the newest update to the SmartWallet mobile app which will enable NFC and P2P mobile ticketing services. The mobile ticketing innovation is the world’s first NFC mobile wallet with P2P redemption of movie tickets. StarHub’s SmartWallet will allow customers to purchase Shaw Theatres movie tickets with their NFC-enabled mobile phones and then redeem these digitally stored entrance tickets with a single tap of the phone on a contactless reader at the cinema. This new capability reduces the time customers spend purchasing and redeeming tickets, creating a compelling and seamless customer experience for movie ticketing. Shaw Theatres, a leading theater group in Singapore, is the first company to deploy the NFC mobile ticketing service. SmartWallet offers three contactless payment card options: credit card, pre-paid card and an ePurse transit card.
Standard Chartered Bank signaled its ongoing commitment to talent development in financial services technology by announcing the 2013 Mobile Ventures Fellowship (MoVe) program, initiated as a part of the Infocomm Development Authority of Singapore’s (IDA) Company-Led Training Programme (CLT). Standard Chartered announced another 10 traineeships for young Singaporean technopreneurs (MoVeRs) in mobile banking technology. This is intended to expose MoVeRs to the financial services industry and spur their creativity in designing and developing next generation mobile banking services for the Bank’s customers.
Development Bank of Singapore (DBS) is implementing Wincor Nixdorf’s Cash Cycle Management Solutions concept in its newly designed flagship branch. Equipped with 22 CINEO systems from automated teller safes to cash recycling systems, the new branch is to serve as a blueprint for the bank’s branch network. Wincor Nixdorf has helped DBS develop its new branch concept, implementing a customized model for automating cash processes at the counters and in the self-service zone. Automated teller safes with recycling functionality take over the time-consuming task of counting and verifying banknotes, significantly reducing the time required by tellers to perform these tasks at the beginning and end of their shifts. Wincor Nixdorf also provides IT services for DBS, comprising first and second line maintenance.
Fundtech global transaction banking solutions is working on Immediate Payments implementations with six financial institutions, all of which will implement its “Global PAYplus” on the Immediate Payments G3 system. They will ise “Global PAYplus – Services Platform (GPP-SP)” for their Immediate Payments G3 deployment, an advanced SOA (Service Oriented Architecture) Payments Services Hub that is able to deliver nearly 100% STP (Straight Through Processing) automation. Its rules-based design provides banks with the flexibility to streamline G3-specific real-time configurable workflows and adapt to future changes to the G3 payments scheme. Fundtech GPP has enabled Barclays to be the first bank to offer UK Faster Payments to its business customers.
Maybank Singapore’s latest mobile banking app is running on Tagit’s proprietary Mobeix platform. Maybank’s mobile banking application suite offers customers account inquiries, bill payments and online funds transfers on-the-go via their mobile devices. Tagit’s platform enables dynamic changes in the app without the hassle of customers upgrading or reinstalling the app. It provides customers with an advanced user experience that is unrivalled in the marketplace. The adoption of the platform by some twenty banks in ten countries across three continents is testimony to its mainstream adoption by financial institutions. Maybank’s new mobile app also integrates personal features that will allow users to customize the loading page with their pictures as reminders of their personal savings goals.
DBS, EZ-Link and MasterCard, StarHub unveils NFC app “SmartWallet” secure digital wallet service. StarHub, DBS and EZ-Link are part of the consortium which received IDA’s NFC Call for Collaboration award in October 2011, to develop an interoperable mobile NFC infrastructure and mobile payment services in Singapore. StarHub’s SmartWallet will allow its mobile customers to enjoy the convenience of using three contactless payment cards on an NFC enabled smartphone – DBS One.Tap, NFC ez-link purse and NFC FEVO Pre-paid MasterCard. SmartWallet will offer users a virtual DBS MasterCard PayPassTM card called One.Tap. With just one tap of the smartphone, customers can pay for goods or services quickly and securely at more than 20,000 DBS and MasterCard PayPass merchant partners in Singapore. Existing DBS cardmembers can apply for One.Tap at any time through DBS Internet or mobile banking.
Gemalto digital security announced its Trusted Service Management (TSM) data center achieved MasterCard and Visa certification. This allows Gemalto customers to distribute MasterCard and Visa mobile payment services to their end users. The certification validates Gemalto’s readiness for supporting banks, mobile operators and other service providers in their NFC deployments across Asia and around the world. The certification establishes official recognition from the major global payment networks of Gemalto’s ability to manage sensitive payment credentials at the required level of security and data confidentiality.
Wolters Kluwer Financial Services announced that Société Générale Bank & Trust has gone live with its FRSGlobal regulatory reporting solution. Société Générale Bank & Trust chose the FRSGlobal Regulatory Reporting solution to help automate, standardize and simplify its Singapore and Hong Kong regulatory returns. Subsequently, the bank will offer automation, standardization and simplification of reports as a result of less reliance on dependencies across the end to end process; strong audit trails of data flows; and consistency across the different reports presented to the regulators. Société Générale Bank & Trust is able to benefit from FRSGlobal’s unique Regulatory Update Service, which gives them access to information to help remain up-to-date and compliant with changes in regulatory requirements.
The PCI Security Standards Council (PCI SSC), a global, open industry standards body providing management of the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS), announced keynotes speakers for the Council’s Asia Pacific event in Singapore on Thursday, June 14 at the…
NagraID Security and NagraID, subsidiaries of the Kudelski Group will showcase the world’s most advanced smartcard technology at Digital ID World and Cards & Payments Asia 2012 (booth #4G09), Suntec Singapore. The display card provides users a convenient all-in-one solution for Citizen ID’s, Secure ID’s like Corporate ID’s, e-Online loyalty cards, and Banking use applications.…
Clear2Pay international technology provider of next generation payment solutions for financial institutions launched the G3 Payments Solution for the Singapore financial services industry. This product launch is a direct follow-on from the partnership Clear2Pay announced with Vocalink on delivering an end-to-end Immediate Payments solution for banks. The G3 scheme will enable Singaporean banks and financial institutions to process low-value payments in real-time maximizing their ability to deliver innovative and commercially attractive products while minimizing settlement risk. This higher level of velocity of money within the economy will benefit Singapore’s thriving business community at large and will be closely monitored by neighboring countries.
Monetary Authority Of Singapore: Reply To Parliamentary Question On The Recent Fraudulent Withdrawals From The ATMs Of DBS Bank. Date: For Parliament Sitting on 8 March 2012 Name and Constituency of Member of Parliament Q288 Mrs Lina Chiam, Non-Constituency Member Question: To ask the Prime Minister in light of the recent fraudulent withdrawals from the…