The meaning behind contactless payment

In the past few years or so, credit card facilities have been launching cards with all sorts of funky-techy things attached to it. It went from a simple credit card which allows you to buy today’s things with tomorrow’s pay cheque, to a whole bunch of other uses. it’s like a Transformers card. now with my one credit card, I can access the ATM to withdraw money, tap at the gantry when I take the train, and apparently pay for parking too if I drove. For small amounts, i can get away with waving my card at the card reader without having to sign for it. Without understanding any of it, I just waved my card if the logo on the card reader matched what’s on my card.

Finally, I decided to google it once and for all. From Wikipedia:

The Technology

CEPAS (Contactless e-Purse Application) is a Singaporean specification for an electronic money smart card. It is an attempt to link up EZ-Link (public transport) and Nets Cashcard (car, ERP) into a single MPSV card. CEPAS has been deployed islandwide, replacing the previous original EZ-Link card effective 1 October 2009.

3 types out there
Nets Flashpay is a new generation contactless, multipurpose stored value CashCard that can be used for transport needs in Singapore.

MasterCard PayPass is an EMV compatible, “contactless” payment feature that provides cardholders with a simpler way to pay by tapping a payment card or other payment device, such as a phone or key fob, on a point-of-sale terminal reader rather than swiping or inserting a card.

Eg. POSB Everyday Card

Visa introduced Visa payWave, a contactless payment technology feature that allows cardholders to wave their card in front of contact-less payment terminals without the need to physically swipe or insert the card into a point-of-sale device.[53] This is similar to the MasterCard PayPass service, with both using RFID technology.

Eg. DBS Live Fresh, UOB One Card

Not everyone go “OHHH” with me.
now which one pays ERP?

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