Singapore payments provider NETS to roll out mobile wallet by end-2017
The NETS Pay mobile wallet will allow
those too young to own a credit card, or who do not wish to own one, to
add their NETS ATM cards to their smartphones for mobile payments.
Read more at http://www.channelnewsasia.com/news/singapore/singapore-payments-provider-nets-to-roll-out-mobile-wallet-by-9208984
(Updated: )
Ricky Lim ·
Look
like NETs has upsurged all its competitors on mWallet - and has
produced a unified Singapore QR code that will work and incorporate with
all the plastic cards (like credit, debit cards for Mastercard, visa
and more) plus all local bankds QR code.
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Ricky Lim ·
Look like NETs will also be more ready for a global QR code standard, when the global standard is ready.
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Ricky Lim ·
Singapore
switching to QR code become more urgent -- as it will become the
de-facto ePayment used by the World. And it will become the catalyst for
Digital Economy - driving World Economy.
Plastic cards and cash and coin - will become the dinosaurs.
Plastic cards and cash and coin - will become the dinosaurs.
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Ricky Lim ·
Because
QR codes, mWallet apps, mobile apps are digital, are electronics
(virtual) and not physical - can push down to the mobile computers
(smartphones) from the backend servers.
No need to manage, distribute all the front-end plastic cards, plastic money and coins --- which are cost to the Economy and to the taxpayers. And even plastic cards business - such as credit card companies are even moving to QR digital code.
Imagine the phenomenal growth that will drive the Digital Economy - and will lead to phenomenal contribution to the Economy.
No need to manage, distribute all the front-end plastic cards, plastic money and coins --- which are cost to the Economy and to the taxpayers. And even plastic cards business - such as credit card companies are even moving to QR digital code.
Imagine the phenomenal growth that will drive the Digital Economy - and will lead to phenomenal contribution to the Economy.
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Ricky Lim ·
This
means that if our businesses adopt the standardised QR codes ===
international and overseas consumers - can just download NETs mobile
apps, scan the QR codes, payment is done online and the local businesses
can deliver goods and services to overseas Countries.
This will have transcend International physical borders - and increase business significantly over the Internet - bring about by our Digital Economy and contribute to the overall GDP and Economy.
Waving plastic cards, plastic money or coins --- will not bring about this Digital Economy - because when waving the plastic cards, plastic money or coins on the smartphones or the computers ---- ePayment cannot be made.
By using smartphone to scan the digital QR code - ePayment, eTransaction can be made.
Now does everyone knows why QR code - play an important part of Digital Economy - and not waving plastic card, plastic money or coins?
This will have transcend International physical borders - and increase business significantly over the Internet - bring about by our Digital Economy and contribute to the overall GDP and Economy.
Waving plastic cards, plastic money or coins --- will not bring about this Digital Economy - because when waving the plastic cards, plastic money or coins on the smartphones or the computers ---- ePayment cannot be made.
By using smartphone to scan the digital QR code - ePayment, eTransaction can be made.
Now does everyone knows why QR code - play an important part of Digital Economy - and not waving plastic card, plastic money or coins?
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Ricky Lim ·
Posted on :- January 2, 2017
ricky l 0 seconds ago
ricky l 4 seconds ago I think there is no need to panic.
Singaporeans should watch out for :- "The government's Committee on the Future Economy will unveil its recommendations on longer term strategies for growth soon". Increasingly, we should focus on "Services" as the Engine for Growth.
This focus will help to chart, foster, grow, expand and export "Services" - as our Growth Engine --- that will transcend and go beyond the constraint of "Physical Boundary". Reply
ricky l ricky l 11 seconds ago
Services for growth will be able to create, penetrate and foster "virtual connectivity, virtual penetration, virtual community, virtual marketplace, virtual trading, virtual exchange, virtual finances, virtual currency" etc ---- transcending "physical boundary, physical constraint, physical restraint" ---- and complete transaction in real-time, online and at break-neck speed. This means more jobs will created for PMETs - where the percentage of PMETs have increased from 10% to the future of 40% or more.
This will decrease the manufacturing contribution to the Economy. In addition, SMEs will also increasingly leverage on the "Service Economy" to grow their business and rely on robotics, automation.
All this will help to transcend Singapore's constraint of "Physical Boundary" - by going "Virtual" - where the "boundary is limitless - the Globe". See less
ricky l ricky l now
If Singapore is able to do this and succeed, Singapore has reached "Nirvanic Economy" - the State of Nirvana - boundless. borderless, virtual, limitless........
ricky l ricky l 10 seconds ago
And for Singapore, the "Globe will be Our Marketplace - with no Boundary" - this should be our focus of "Service Engine for Growth".
We should explore, open up and penetrate "New and unchartered market" as well - as physical boundary is no longer a constraint.
ricky l ricky l now
Through the "Service Sector" ---- we will then attract and draw the "Physical connectivity" back to Singapore - and grow our manufacturing and other physical sectors and industries.
This will be the reverse grow - to overcome our "physical constraint".
ricky l ricky l now
It is thus important for Singapore to maintain good relationship with many and if possible every Countries in the World.
ricky l ricky l 11 seconds ago
Singapore have managed to grow our "Service Sector" to contribute 25% to the Economy.
With increased focus, the target is to grow it to 50% of the Economy ---- that will effectively cover the loss in "Manufacturing sector" and "SME sector - that is not able to grow with no corresponding grow in manpower". PMETs will grow in importance and can grow in number - and contribute to more middle-top income earners.
ricky l ricky l 2 seconds ago
Specifically, this "Service Engine" for growth as our Future Economy - should be the "Digital Economy".
ricky l ricky l 11 seconds ago
Where this Digital Economy should pervade every sectors of the Economy :-
Be it :-
(1) IT sector
(2) Transport sector
(3) Finance, Banking and Insurance sector
(4) Logistics sector
(5) Manufacturing sector
(6) SME sector
(7) Hospitality sector
(8) Food and Beverage sector
(9) Gaming sector
(10) Healthcare sector
(11) Aerospace sector
(12) Construction sector
(13) Trade, ports sector etc
ricky l ricky l 2 seconds ago
Imagine if Digital Economy can contribute 25 to 50% in each industry sector - we can grow and replace our traditional Economy sector phenomenally - from a $400 billion GDP to $600 billion GDP.
And create many PMETs jobs - which have been expanding from 10% to 40% - and can still expand further with Digital Economy. This will create many more middle income earners and top middle income earners - if Singapore succeed.
The future for our descendants and future generations will be bright.
ricky l ricky l 2 seconds ago Our current Digital exploitation is still not deepen and expanded in scope.
If we succeed in deepening and expanding Digital exploitation into a full-fledged Digital Economy in every sector of our Economy - our Future Growth will be very bright.
Reply
0
ricky l 0 seconds ago
ricky l 4 seconds ago I think there is no need to panic.
Singaporeans should watch out for :- "The government's Committee on the Future Economy will unveil its recommendations on longer term strategies for growth soon". Increasingly, we should focus on "Services" as the Engine for Growth.
This focus will help to chart, foster, grow, expand and export "Services" - as our Growth Engine --- that will transcend and go beyond the constraint of "Physical Boundary". Reply
ricky l ricky l 11 seconds ago
Services for growth will be able to create, penetrate and foster "virtual connectivity, virtual penetration, virtual community, virtual marketplace, virtual trading, virtual exchange, virtual finances, virtual currency" etc ---- transcending "physical boundary, physical constraint, physical restraint" ---- and complete transaction in real-time, online and at break-neck speed. This means more jobs will created for PMETs - where the percentage of PMETs have increased from 10% to the future of 40% or more.
This will decrease the manufacturing contribution to the Economy. In addition, SMEs will also increasingly leverage on the "Service Economy" to grow their business and rely on robotics, automation.
All this will help to transcend Singapore's constraint of "Physical Boundary" - by going "Virtual" - where the "boundary is limitless - the Globe". See less
ricky l ricky l now
If Singapore is able to do this and succeed, Singapore has reached "Nirvanic Economy" - the State of Nirvana - boundless. borderless, virtual, limitless........
ricky l ricky l 10 seconds ago
And for Singapore, the "Globe will be Our Marketplace - with no Boundary" - this should be our focus of "Service Engine for Growth".
We should explore, open up and penetrate "New and unchartered market" as well - as physical boundary is no longer a constraint.
ricky l ricky l now
Through the "Service Sector" ---- we will then attract and draw the "Physical connectivity" back to Singapore - and grow our manufacturing and other physical sectors and industries.
This will be the reverse grow - to overcome our "physical constraint".
ricky l ricky l now
It is thus important for Singapore to maintain good relationship with many and if possible every Countries in the World.
ricky l ricky l 11 seconds ago
Singapore have managed to grow our "Service Sector" to contribute 25% to the Economy.
With increased focus, the target is to grow it to 50% of the Economy ---- that will effectively cover the loss in "Manufacturing sector" and "SME sector - that is not able to grow with no corresponding grow in manpower". PMETs will grow in importance and can grow in number - and contribute to more middle-top income earners.
ricky l ricky l 2 seconds ago
Specifically, this "Service Engine" for growth as our Future Economy - should be the "Digital Economy".
ricky l ricky l 11 seconds ago
Where this Digital Economy should pervade every sectors of the Economy :-
Be it :-
(1) IT sector
(2) Transport sector
(3) Finance, Banking and Insurance sector
(4) Logistics sector
(5) Manufacturing sector
(6) SME sector
(7) Hospitality sector
(8) Food and Beverage sector
(9) Gaming sector
(10) Healthcare sector
(11) Aerospace sector
(12) Construction sector
(13) Trade, ports sector etc
ricky l ricky l 2 seconds ago
Imagine if Digital Economy can contribute 25 to 50% in each industry sector - we can grow and replace our traditional Economy sector phenomenally - from a $400 billion GDP to $600 billion GDP.
And create many PMETs jobs - which have been expanding from 10% to 40% - and can still expand further with Digital Economy. This will create many more middle income earners and top middle income earners - if Singapore succeed.
The future for our descendants and future generations will be bright.
ricky l ricky l 2 seconds ago Our current Digital exploitation is still not deepen and expanded in scope.
If we succeed in deepening and expanding Digital exploitation into a full-fledged Digital Economy in every sector of our Economy - our Future Growth will be very bright.
Reply
0
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