OCBC Bank sceptical that NFC mobile payments solves customer issue
OCBC Singapore believes that peer-to-peer mobile banking will grow in a big way.
When Singapore announced its nation-wide near-field communications (NFC) initiative under a consortium of, among others, Citibank, DBS, EZ-Link and all three mobile operators in Singapore to develop the necessary infrastructure and ecosystem, it highlighted the role of the government in advancing a still-hotly contentious issue of NFC mobile payments—the private sector was not able to come together without incentives and a call for support by the Infocomm Development Authority of Singapore (IDA) own IDA’s iN2015 Masterplan. Two banks were markedly missing from the list, OCBC and UOB. UOB wasn’t…
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