Micropayments

By whytestalyon

  • Formation of NETS (banks)

  • Magnetic cards (LTA)

  • New tech. Contactless card (LTA)

  • CashCard (NETS)

  • ERP and Parking paid for by CashCard

  • IDA & NETS – looking for unified payment platform to become ISO standard

  • Magnetic Card replaced by contactless multipurpose card

  • Memorandum b/w EZ-Link and NETS for standardized platform

  • NETS new CEO

  • EZ-Link could be used for purchases at McDonalds

  • CEPAS draft specifications released, released for public comments

  • NETS rewards and loyalty program started

  • CEPAS had second public review

  • LTA & NETS started development of new card

  • LTA new CEO

  • NETS released combi card based on CEPAS v1

  • Common standard for e-purse cards

  • Symphony for e-payments system was soft launched

  • NETS flash pay card introduced (CEPAS v2)

  • EZ-link felica cards stopped

  • Introduced new backend system, did it for transaction processing and provide more real time services

  • Added taxi payments

  • 10+ million cards issued

  • Distance based fares vs zonal fares on city buses

  • Clearing house implemented for processing all transactions (20 million transactions)

  • NFC compatibility for phones

  • NFP cards waived registration to encourage adoption

  • More suppliers and cost of cards dropped to $2.50

  • Pay for parking

  • McDonalds installed NFP readers

  • LTA assessing NFC mobile payments for transit