Pay by tapping your mobile phone
Smart launches new cashless model.
Dec 16, 2011 15:00 pm
There are already 10 ways on how you can do cashless transactions, and Smart Communications, Inc. added one more – using your mobile phone.
Wireless leader (Smart) and top Philippine bank and issuer of Smart Money, BDO, in cooperation with Worldbex Services International’s World Bazaar Festival, are helping subscribers share their blessings this Christmas as it introduces Smart Money “Tap2Pay”.
[related|post]Similar to Tap Share which Smart launched in October 2011, Tap2Pay by Smart Money uses Near Field Communications (NFC), a technology which allows for contactless data exchange between two devices in close proximity to each other.
“Tap2Pay is the first mobile NFC service in the Philippines that lets you pay for products or services,” said Smart Chief Wireless Advisor Orlando B. Vea.
Smart is the first in the Philippines to utilize NFC technology through the use of smartphones. Smart will also be partnering with more merchants and with more NFC-enabled handsets to further expand its Tap2Pay services.
Before Nokia C7 owners can make use of the Tap2Pay feature, they must first update their phone software to activate the NFC feature. This can be done by going to the phone’s update menu or by connecting the phone to a computer using Nokia PC Suite (standard data rates apply).
Similarly, C7 users can also visit the nearest Nokia Care Center to have their phone software updated for free. Tap2Pay by Smart Money only works with NFC-enabled phones.
NFC technology is predicted to be a major player in mobile transactions within the next few years. It is already being used in many Asian countries and is expected to replace existing cashless payment systems.
Earlier this year, Google—the world’s largest Internet company and owner of the Android smartphone operating system, announced that they will be actively pushing NFC technology. Google’s CEO Eric Schmidt added that NFC support will become a standard feature on Android’s upcoming versions.