The Infocomm Development Authority of Singapore is offering funding support to merchants in an attempt to boost the presence of contactless POS terminals in that country. The government initiative could lead to many more contactless terminals in food courts, coffee shops, fast food outlets, convenience stores and even in vending machines.
The grants, to be awarded by late July, are part of Infocomm’s program to promote e-payment adoption, particularly NFC-compliant mobile payments. Under terms of the initiative, participants would be required to complete their contactless terminal deployment within 18 months from accepting their grants. They are also required to include those merchants that will be a draw for potential adopters of mobile payments, such as consumers between the ages of 18 and 35.
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