Current and Future Payment Landscape
The current micro-payment landscape in Singapore is fragmented with different standards, with two main players, NETS and EZ-Link. EZ-Link controls the transit space and NETS controls the motoring (ERP, parking) space. NETS also dominates the retail space, with EZ-Link having limited presence. Cards and readers from both providers cannot currently interoperate and consumers hold different cards for payment of different services and goods.
CEPAS aims to open and level the micro-payment playing field. For example, NETS card holders will be able to use their cards to pay for transit and EZ-Link card holders for retail and motoring payments. For merchants, the overall operation cost is intended to be lower and the market space larger.
CEPAS-compliant EZ-Link cards have been available for sale from 29th December 2008.
Read more about this topic: CEPAS
Famous quotes containing the words current, future, payment and/or landscape:
“Reputation runs behind the current state of affairs.”
—Mason Cooley (b. 1927)
“It is marvelous indeed to watch on television the rings of Saturn close; and to speculate on what we may yet find at galaxy’s edge. But in the process, we have lost the human element; not to mention the high hope of those quaint days when flight would create “one world.” Instead of one world, we have “star wars,” and a future in which dumb dented human toys will drift mindlessly about the cosmos long after our small planet’s dead.”
—Gore Vidal (b. 1925)
“Put God in your debt. Every stroke shall be repaid. The longer the payment is withholden, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.”
—Ralph Waldo Emerson (1803–1882)
“There exists a black kingdom which the eyes of man avoid because its landscape fails signally to flatter them. This darkness, which he imagines he can dispense with in describing the light, is error with its unknown characteristics.... Error is certainty’s constant companion. Error is the corollary of evidence. And anything said about truth may equally well be said about error: the delusion will be no greater.”
—Louis Aragon (1897–1982)