Mobile payment service on trial

StarHub, and dollarDEX.com, announced a partnership to test a revolutionary mobile phone-based payment service which enables mobile phone customers to purchase goods and services showcased over the Internet.

New mobile payment system for wireless purchasing of goods and services goes on trial this month.

SINGAPORE - StarHub, Singapore’s new info-communications player, and dollarDEX.com, Asia’s pioneer online financial superstore, announced a partnership to trial a revolutionary mobile phone-based payment service.

This service will enable StarHub mobile phone customers to purchase goods and services showcased over the Internet, in a more secure and convenient manner.

Through this partnership, dollarDex will provide StarHub mobile subscribers the access to register for this mobile phone based-payment service via its website and the facility for verification of their online purchases. Users will receive their bills from StarHub for their online purchases they make when this innovative mobile phone-based payment service is commercially available.

StarHub mobile users can purchase goods and services featured on dollarDEX’s website or its partner merchants’ websites. For the trial, dollarDEX has lined up a list of selected merchants whose websites can support this mobile phone-based service.

StarHub mobile customers will be able to make online purchases without the need to provide sensitive personal credit card information, using only their mobile phone number and a Personal Identification Number (PIN) to make a transaction.

The security of this mobile phone-based payment concept is similar to that of withdrawing money from an ATM (Automated Teller Machine). The customer keys in his PIN and gets a validation from dollarDEX before the merchant delivers the goods or services to him, or the customer can also choose to pick up his purchase at the merchants’ premises.

The main benefits for StarHub mobile phone customers are greater convenience and peace of mind, as this mobile phone-payment concept is a relatively more secure method to pay for their online purchases compared to revealing their credit card numbers over the Net. They also have the added flexibility to make online purchases even if they do not possess a credit card.

Mr Wee Way Kiat, General Manager, Mobility, StarHub notes that payment for products and services through non-traditional and non-cash means always poses a challenge.

"Using the mobile phone to make and pay for purchases, require several criteria to be addressed such as security, authentication, ease of use and peace of mind for the buyer and seller. We believe that this tie-up with dollarDEX will enable us to make m-commerce for our mobile customers a reality," says Mr Wee.

Mr. Richard Lai, CEO of dollarDEX, said, "Consumers no longer have to worry about their credit card numbers being misused on the Internet and merchants can authenticate the card numbers coming through their web services."

"The revolution is in achieving these twin benefits for consumers and merchants with just the humble mobile phone, without additional investments."

This mobile phone-based payment trial starts towards the end of the year and will be launched commercially soon after.

About StarHub
StarHub is Singapore’s latest operator for both fixed and mobile telecommunications services. StarHub offers customers in Singapore a info-communications solutions package for all their communications requirements including fixed and mobile phone to Internet services.

About dollarDEX.com
dollarDEX.com is a C2B (consumer-to-business) online financial portal, where consumers shop and purchase housing and car loans, motor and travel insurance, and 12 other types of financial products. It has launched innovative services such as a reverse auction on home loans.