2003YW8's Mobile Payment Services
Singapore, March 18, 2003
More than 12,000 Singaporeans have registered for YW8's Mobile Payment Services. With the end of the trial in Dec 2002, YW8 plans ahead.
YW8 (pronounced as "Why Wait?") was the first mobile payment consortium to introduce its mobile payment services to Singaporeans on 9 March 2002 and has since seen more than 12,000 Singaporeans registering for YW8's mobile payment offerings. Including the four merchants on YW8's early bandwagon, there are now a total of 10 merchants offering mobile payment services to the public at the end of the trial. With the trial period over, there are plans for YW8 to go commercial. The operator's role will be taken up by NETS while support will come from all the three mobile telecommunication operators - SingTel, MobileOne and StarHub Pte Ltd.
As one of the four consortia awarded the "Wired With Wireless" m-Payment Solutions Call for Collaboration by Infocomm Development Authority of Singapore in October 2001, YW8 was brought to the marketplace by the consortium led by National Computer Systems Pte Ltd (NCS). It comprises seven service providers, namely NCS, NETS, Visa International, DBS Bank, SingTel, MobileOne and StarHub. This nine-month trial period for the "Wired With Wireless" m-Payment Solutions Call for Collaboration ended on 31 December 2002.
To date, more than 12,000 users have registered for YW8, with the option of registering for a eNETS VCard and/or Visa Credit Card. 80% of the users chose to register via internet while the remaining 20% users had selected to register via SMS. Amongst the various services, the ease and convenience of booking movie tickets with Eng Wah chain of cinemas has proven to be a hit with the trial users.
Ng See Sing, General Manager of NCS and the Chairman of the YW8 consortium concludes, "The nine-month trial period for YW8 mobile payment services has been a learning experience for all consortium members as we understand the wireless lifestyle appeal to trial users and all participating organisations. This is the beginning of a long-term engagement of mobile payment services in all facets of a person's lifestyle and activities. We are confident that mobile payment services will eventually become part and parcel of everyone's life."
Mobile phone subscribers of SingTel, MobileOne (M1) or StarHub can enjoy the mobile transactions with YW8 merchants. Users can use Short Message Service (SMS) or Wireless Application Protocol (WAP) to:
- Purchase movie tickets at Eng Wah Cinemas
- Purchase NTUC Income travel insurance
- Make i2U payments (Person-to-Person funds transfer)
- Pay M1 mobile phone bills
- Pay SingTel bills
- Pay library fines and check exam results at NUS
- Top up NLB's eLibraryHub's prepaid account
- Make fine payments to Land Transport Authority
Moving YW8 forward towards commercialisation after the trial will be NETS and the three participating telecommunications providers. Together, they will work towards offering mobile payment services to the existing and potential YW8 users, providing the general public the option to make transactions anywhere, anytime, on their mobile phones. Beyond the shores of Singapore, YW8 consortium members will also team up with other market players to promote mobile programmes overseas.
"We are pleased that the YW8 consortium has built on the collaboration and the experience from the Mobile Payments CFC trial to commercialise their mobile payment service", said Mr Khoong Hock Yun, Assistant Chief Executive at IDA. "We are indeed encouraged by the breadth of services and the consumer response to m-payments during the nine-month YW8 trial. With the commercialisation of YW8, Singaporeans can look forward to the convenience of making payments on the move for more services in the coming year."
NCS Pte Ltd
DID: +65 6556 5629
NCS is a member of the Singtel Group and the leading information, communications and technology (ICT) service provider with presence in over 20 countries. NCS delivers end-to-end ICT solutions to help governments and enterprises realise business value through digital transformation and the innovative use of technology. Its unique delivery capabilities include consulting, applications development, systems integration, outsourcing, infrastructure management and portal solutions.