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RFID – the future of contactless
payment in Asia
21-March-05
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 0
RFID – the future of contactless payment in
Asia
This Industry Briefing report provides an overview of the future prospects for RFID use in consumer payments for public
transport and other small purchases.
The report is provided as is, free of charge and without any warranty or guarantee. Fusion Consulting accepts no
responsibility for errors or omissions, or for any loss or consequential loss arising as a result of decisions taken based on
its contents.
©2005 Fusion Consulting. All rights reserved. This report is copyright, however individual pages or portions thereof may
be copied referencing “Fusion Consulting” as the source.
Fusion Consulting is a business intelligence consultancy providing clear strategic advice on Asia-Pacific markets. With
offices in Hong Kong and Singapore, and over 250 consultants in 14 countries, we conduct custom research and
consulting to help companies understand their markets, compete more effectively and grow into areas of opportunity.
For further information please see the ‘About Fusion Consulting’ section, contact the author or visit www.fusionc.com.
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 1
Abbreviations, acronyms and definitions
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Conclusion: The likely future of contactless payment
Introduction to RFID
RFID in contactless payment
Integrating RFID with new devices
Appendix: Information sources
About Fusion Consulting
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 3
The likely future of contactless payment
Credit cards with RFID capabilities
In cities with strong incumbents, like Hong Kong and Credit card companies should seek early partnerships
Singapore, existing clearing houses might choose to with incumbent companies
compete with credit cards
The future of contactless payment lies with the credit card companies – they have the networks, the experience, the
clearing systems and the customers to make it successful.
RFID technology is developing fast and being deployed in a wide range of industries and solutions; it provides fast and
reliable transmission of data.
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 4
The likely future of contactless payment
Value add: Phones combined with credit cards
If credit cards enter the RFID payment market (as they are likely to), telecom vendors and operators will not be able to
compete with them in offering payment solutions. However, mobile users will be a captive (and growing) target market,
especially in countries where there is no strong culture of credit card use.
Some operators have or are developing and managing In most countries operators would still benefit from
billing systems for third parties (Chinese operators cooperating with the credit card companies, sharing POS,
being the best example); they could be interested in using credit card companies’ transaction management
extending their services and taking over small RFID- skills and learning best practices.
based payments.
To develop the integration of phones with payment Credit card companies have over 50 years of relationships
based on RFID, players will involve in the first instance: and experience with affiliated partners, banks and
telecom vendors, telecom operators, clearing houses (to customers.
manage the transactions), banks and merchants.
The telecom industry has developed a standard – NFC – Cities with developed public transport infrastructure have
compatible with existing RFID. One of the possible uses been using RFID technology to facilitate fare payments.
could be payment for public transport fares and small These are also the locations where acceptance of new
purchases; most other uses are based on the transfer of technology is high. A solution combining mobile phones
data (music, images, etc.) and could also be linked with and payments is likely to take off.
payments.
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 5
Conclusion: The likely future
Introduction to RFID
RFID in contactless payment
Integrating RFID with new devices
Appendix: Information sources
About Fusion Consulting
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 6
Introduction to RFID
Developed transport systems use RFID; credit
card and telecom players exploring solutions
RFID technology allows for data to be transmitted between two
devices at close range without physical contact – ‘contactless’ 2004
It can be made very secure and fast, and the data stored and • DoCoMo and Sony testing
transmitted can be extensive the use of mobile phones
with RFID technology in
Transmission and validation can be done in less than a second Japan, including train fare
Cities with a good public transport infrastructure have been introducing payment
cashless payment on buses, subways, and trains • Visa testing credit cards
Payment is realised by nearing a pre-paid (and rechargeable) RFID with RFID technology in
card to a reader, upon which the reader discounts the correct amount Malaysia
from the card • Amex piloting key rings
The frequency used (13.56MHz) has a read range of about 20 cm; no with RFID in the US and
physical contact is necessary Singapore for small
payments and access
In addition to being a pre-paid card the card can hold other
information which can be used to identify the user 2005
The two key players in public transport contactless prepaid cards are • Nokia to pilot mobile
Sony (branded solution FeliCa) and Philips (branded solution MiFare) phones with NFC chips
that will allow payment
Sony, Philips and Nokia have developed a standard, ‘near field for bus fares in Germany
communications’ (NFC), to allow compatibility between RFID services
and telecom products – this is enabling the use of mobile phones as • MasterCard and Motorola
‘contactless cards’ developing a solution
together based on NFC
Credit card players (Visa, Mastercard and Amex) are also testing the
use of RFID technology for payments, access and identification
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Introduction to RFID
Applications of RFID payment cards are wide
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Introduction to RFID
RFID cards used for transport, retail
payments and access in Hong Kong
RFID payment technology – the Hong Kong example Octopus in Hong Kong
Smart cards (chip inside) have been in existence for over a decade • Within three months of
MTR Corporation was first to use RFID in the Hong Kong public launching, 3 million
transport system in 1997 to allow for cashless payment of cards had been sold
underground train fares • Today there are 11.1
Today the use of contactless RFID cards in non-cash transactions in million Octopus cards in
Hong Kong is widespread and has been extended to applications circulation (for a
such as access and identification as well as pre-paid cards for small population of 7 million)
retail purchases and public transport • Users span all social
Telecom and credit card players are looking at the possibilities of levels, ages, education
using RFID technologies by integrating existing services with those levels and races
offered by contactless smart cards • Public education needed
Although it has been estimated that by 2006 50% of mobile phones was minimal
in Hong Kong will have RFID capabilities, the credit card companies
might be winning the race in terms of RFID based payments
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 9
Introduction to RFID
Contactless card market growing in double
digits to over US$3 billion by 2008
Smart card penetration and growth
• Increased use of smart cards – 1.6 billion chips worldwide in 2003; expected CAGR 14%
• The use of smart cards in public transport payment has been growing faster than other uses
• Smart cards are convenient, fast to use, secure and cheap thus making them viable solutions even in developing
countries
• On average each person holds 4.6 cards in their wallets
• Contactless cards market is projected to grow at a CAGR of 47% from 2002 to 2006
• Revenues from RFID expected to reach over US$3 billion by 2008
Average number of credit cards carried in wallets Global smart card usage growth by application
Indonesia 8.3
Hong Kong 5.9 GSM 10%
Singapore 5.5
5.5 Pay TV 20%
Japan
Taiwan 5.3 Financial 21%
China 4.7
Philippines 4.0 ID security 30%
Malaysia 4.0
Korea 2.3 Transport 61%
Thailand 2.3
India 2.2 0% 20% 40% 60%
0 2 4 6 8 CAGR 2002-2007
Note: Card penetration relates to ALL credit cards, not only RFID cards; urban only.
Source: Fusion Consulting consumer survey, n=80; CIA World Fact Book; Octopus. Source: Gartner
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 10
Introduction to RFID
Same technology across Asia but no
compatibility
Details of public transport RFID networks Cards used in public transport
Most public transport payment cards allow for other transactions
to be carried out, within the network (managed by the clearing Hong Kong
house). • Card brand: Octopus
• Clearing house: Octopus Cards
Transactions carried out are managed by clearing houses usually • Main company: MTR
partly owned by the main public transport company. This • RFID system: FeliCa
integrated approach ensures fast deployment of the technology
throughout the public transport. Singapore
Readers are owned by the entity receiving payment (stores, • Card brand: Ezlink
public transport company) but the software can usually only be • Clearing house: EZ-Link Pte Ltd
• Main companies: MRT, LRT
reconfigured through the clearing house.
• RFID system: FeliCa
Data within the chip is stored in folders, readers have to be
programmed to read the right data from each folder. Tokyo
• Card brand: Suica
There is no initial compatibility between existing RFID systems in • Clearing house: BitWallet Inc.
public transport. Hong Kong, Singapore, Beijing, Taipei, Tokyo, • Main company: East Japan Railways
Manila (being introduced) all have customized readers that will • RFID system: FeliCa
not accept each others cards.
A common standard will allow for compatibility but readers will Malaysia
• Card brand: Touch’ n Go
need to be reprogrammed.
• Clearing house: Rangkaian Segar
Most cards are prepaid (although there are some credit cards in Sdn Bhd
use in Korea and Japan). • Applications: Tolls, trains
• RFID system: MiFare
Readers cost ~US$100 (US$400 if sold branded) and cards
US$0.3 (US$2 if sold branded).
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 11
Introduction to RFID
Increasing number of RFID players in the
market, lead by Sony and Philips
Map of key RFID payment players RFID technology
• Sony and Philips are heavily
influential in the market
Mobile handset vendors • Cards in Asia are based on
either FeliCa or MiFare
Nokia Samsung RFID technology
• Any future integration with
players other solutions will need their
Philips Motorola approval and cooperation
Infineon Technologies STMicroelectronics
Telecoms
NFC Gemplus • Handset vendors are
TI embracing NFC and
Sony incorporating it into devices
Hitachi • Exploring the use of mobile
Innovision Research and Technology ASK phones to pay for public
Royal Philips Electronics transport and small purchases
• Integration will be required
IRISU with clearing houses,
Samsung Electronics operators, transport
Inside Contactless operators, retailers and banks
Credit card companies Bielo Credit cards
Atmel
American Express • Testing cards and other
Visa devices that use RFID
MasterCard • Credit and debit card
functions so far only in retail
and ID function
Source: Fusion Consulting industry interviews
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Introduction to RFID
FeliCa and Mifare RFID payment systems
dominate in Asia
FeliCa Developed by Sony
Year developed 1988
Use in Asia Pacific Hong Kong, China, Singapore, Japan
Cards sold 60 million (estimated)
Applications Public transport, electronic money, ID, direct downloading of value (prepaid money), content-
based data, electronic ticketing and online credit
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Introduction to RFID
Telecom players want a slice of payments too
Future applications
• Download train timetable from a station’s central information board to telephone by swiping PDA by the board
• Download promotional music track from advertising poster onto MP3 player by swiping the MP3 player by the poster
• Payment of public transport fares anywhere by swiping the same phone in a bus in New York, Shanghai or London
• Swipe mobile phone by laptop to copy a flight schedule, select and pay for a flight over the mobile phone without the
need to make a call, swipe the phone at the airport to check in
• Buy two theatre tickets over the internet, swipe to PDA, transfer one from PDA to a mobile phone, two people enter the
theatre one using the PDA, one using a phone
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Introduction to RFID
The public’s perception of RFID is negative
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Introduction to RFID
Consumers and retailers benefit from RFID
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Conclusion: The likely future
Introduction to RFID
RFID in contactless payment
Integrating RFID with new devices
Appendix: Information sources
About Fusion Consulting
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 17
RFID in contactless payment
Fast adoption in most countries
RFID payment card adoption and potential
• Countries with weaker public transport infrastructure don’t use contactless cards
• Only India, Indonesia and the Philippines have no RFID network; users in other countries are familiar with the concept
• Users’ main interest is public transport and toll payments
• Existing users of contactless cards in public transport would like to see services extended to retail and taxis
• The concept of integration with credit cards or phones is not very popular, especially in cities with high penetration
• Users are uncomfortable with consolidation of all their data into one device
Korea 75%
Japan 50% 50% 50%
Indonesia 100% Japan 80%
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RFID in contactless payment
Transport is the No.1 application; expanding
into other areas in Hong Kong and Japan
East Asia: Contactless payment card products and main applications
Korea Japan Hong Kong Shanghai/ Taiwan
Beijing/Shenzhen
Contactless
card 50% 56% 100% 10% 67%
penetration
Suica, IO,
Card names T-money Octopus Transcard
Passnet, Easycard
Metrocard,
Respondents 4 11 16 11 3
Note: PT= public transport; R= retail (small purchases below US$25), FF= fast food, V=vending, PK=parking; only includes main uses mentioned by users surveyed
Source: Consumer survey; n=45
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RFID in contactless payment
High penetration and multiple uses in
Singapore and Malaysia
Southeast/South Asia: Contactless payment card products and main applications
Thailand Philippines Singapore Malaysia India Indonesia
Contactless
card 33% 100% 100%
0% 0% 0%
penetration
Ezlink
Card names ETCS Flash Pass Cashcard Touch’n Go
(Visacash)
PT, FF, R,
Main uses Tolls PT Tolls, PK, R
PK, tolls
ID and Combine
Other uses
loyalty R both cards,
wanted
schemes fuel, ID
Respondents 4 4 15 2 7 3
Note: PT= public transport; R= retail (small purchases below US$25), FF= fast food, V=vending, PK=parking; only includes main uses mentioned by users surveyed
Source: Consumer survey; n=35
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RFID in contactless payment
Trend towards implement RFID cards in Asia
Philippines
Flash Pass
• Launched in 2004
• A unified ticketing system used in Manila for the
light rail and metro rail networks Hong Kong
• More uses: small purchases Octopus
• Likely to succeed in Manila’s trains but not in • Exploring the potential of linking it with the
other areas or other transport as the culture is not healthcare system (identification and payment)
Singapore
one of ‘storing value’ and purchasing power is low • Uses: public transport, exhibition and convention
Ezlink registration, vending machines, congee shops,
• Over 6 million cards at Dec-04 digital music kiosks and insurance machines,
Malaysia parking, photocopying centers, public swimming
• Uses: Public transport, pools and sporting venues, schools/campus
• Visa piloting RFID based cards trialled in over 150 McDonalds, libraries, cinema, (attendance, access, payment), library cards,
shops and eateries; strong backing from the schools, food courts supermarkets, personal care stores, cinema
banking community ticketing, office access
NETS
Touch’n Go • 11.1 million cards in circulation, 8.7 million
• Uses: carparks, tolls, library,
• Uses: Tolls, petrol, parking, theme park fuel, convenience stores transactions a day (October 2004)
Source: Press; Fusion Consulting industry interviews and consumer survey
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RFID in contactless payment
Hong Kong and Singapore are key markets in
which to test integration
Preferred locations for introducing integrated solutions Integration of RFID payment
in public transport
• Japan is already using
More contactless cards but there is no
favourable integration between the various
Top locations transport operators
Hong Kong • China will present some
compatibility issues (their
Singapore systems are based on a
modified version of Mifare) as
Korea well as financial insecurity
Malaysia • Malaysia is piloting Visa’s RFID
Adoption
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 22
Conclusion: The likely future
Introduction to RFID
RFID in contactless payment
Integrating RFID with new devices
Appendix: Information sources
About Fusion Consulting
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 23
Integrating RFID with new devices
Integrating RFID with credit cards will be
easier than with mobile phones
Advantages and disadvantages of integrating RFID with credit cards and mobile phones
Credit cards Mobile phones
Advantages Disadvantages Advantages Disadvantages
Need to develop
Familiarity All ages
No interaction comprehensive
service offer
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 24
Integrating RFID with new devices
Mobile phone subscription keeps increasing
68 7%
Japan 90 • Ownership of the mobile phone is still growing, in
2 7% particular in less developed countries
Vietnam 2
• Services offered on a mobile phone are becoming
24 3%
Taiwan 27 wider, minimising the need for other devices
18 (such as cameras, MP3 players, PDAs)
12%
Thailand 28 • A mobile phone screen will allow the user access
3 6% to more information (such as the remaining value
Singapore 4 on a pre-paid service)
15 25%
Philippines 37 • Mobile phones allow interactions with other
9 12% sources (eg. bank, internet)
Malaysia 14
32 3%
Korea 37 • Handset manufacturers will only develop models
11
Indonesia 43 2002 40% for large markets (Hong Kong or Singapore are
2006 too small)
6 87%
India 78 • Services offered through handsets need to be
Hong Kong 6 3% wide and well developed (to ensure value to
7 user)
207
China 386 17% • Constant new developments in telecoms which
decrease customers’ enthusiasm for new services
0 20 40 60 80 100 220 380 (expectation that something better will soon
Subscribers (million) replace it)
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 25
Integrating RFID with new devices
Telecom would need partnerships to offer
payment solutions
Barriers to integrating handsets with existing public transport RFID solutions
Deployment in cities without RFID networks
In the future all handsets are likely to have NFC capabilities; however the issue will It is unlikely to catch on in less
be who will deploy the network of readers and manage the transactions. Operators developed countries. Might be
are unlikely to have the resources, users in developing countries cannot afford to introduced only in key cities.
“store value”, and RFID readers are more costly than the transport vehicles.
Deployment in cities with existing RFID networks If clearing houses retain the
Handsets with NFC will be developed. To be successful they will need to facilitate management of transactions,
exchange of data between telecom devices as well as m-commerce. Public transport partnering with public transport
fare payment and small purchases could be extra services however this will have to could be feasible and fast (Hong
be done with the cooperation of operators, clearing houses, banks and merchants. Kong and Singapore, mainly).
Integration with existing systems (public transport and some retail) Technically possible.
Competition from credit cards and incumbent systems who may block new players Feasible if partnerships with
existing players are set up.
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 26
Integrating RFID with new devices
Coordination between players will be
complex for telecom based solutions
Integrating existing solutions with mobile phones
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Integrating RFID with new devices
Learnings from Japan indicate a slower than
expected uptake of RFID payment cards
• NTT DoCoMo has been piloting RFID services in mobile handsets (Suica)
• Felica phones will be used from January 2006 for payment of train fares with East Japan Railway
• However the rail network is run by various companies and Suica adoption might not be standard
• Only 2% of passengers were seen to use Suica cards (as of September 2004)
• Extensive payment infrastructure (turnstiles, ticket machines) would need replacing if RFID payment is enforced
• Japan’s customers are technologically open to changes and are fast adopters but there is still strong resistance to RFID
applications on phones and concerns with data privacy and security
• However handsets with fingerprint recognition sensors could help solve that concern (for large transactions)
• And DoCoMo is offering already FeliCa in 4 handsets for 3G and 3 for 2G so penetration is expected to be fast
• Large handset churnout (handsets are replaced every two years)
• Vodafone KK and Sharp are developing a transferable IC chip to be used in handsets, PDAs, car navigation systems and PCs
• KDDI is working with Hitachi to offer RFID services through USIM card
• Currently offering credit card transactions (Kei-Credit) where credit card data is sent through the infrared port of the handset (this is not RFID
based technology but is also contactless)
Japan: Phone payment preferences and issues RFID services Japanese customers would like on their handsets
Concerned about 3%2% Train fare payment
safety of data 69% 3% Purchases from convenience stores
4%
Would use the Access to private house (key)
10% 7%
phone as home key 34% Credit card
Would use the phone 8% Purchasing of tickets and entrance to events
for purchases 37% Purchases from vending machines
9%
Access and payment at amusement centers
Would m-commerce 30% 13% 17% Flying without needing a boarding card
Access to offices
10% 30% 50% 70%
Payment at karaoke clubs
Source: Yahoo! Japan, based on 17,511 responses; IT Media Mobile; Fusion Consulting industry interviews
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 28
Integrating RFID with new devices
Increasing use worldwide of financial cards
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 29
Integrating RFID with new devices
Main credit card players are looking at Asia
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 30
Integrating RFID with new devices
Credit cards have networks and know-how
Barriers to integrating credit cards with existing public transport RFID solutions
Technically possible but time
Integration with existing systems (public transport and some retail) consuming as readers will need
Although not necessary for a successful deployment, existing contactless card users reconfiguring. Negotiating with
will expect integration of the two systems (public transport solutions and new credit clearing houses and agreeing
card based solution). partnerships will be more
complicated.
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 31
Conclusion: The likely future
Introduction to RFID
RFID in contactless payment
Integrating RFID with new devices
Appendix: Information sources
About Fusion Consulting
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 32
Appendix: Information sources
Desk research sources
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Appendix: Information sources
Industry interviews
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 34
Appendix: Information sources
Consumer survey
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 35
Conclusion: The likely future
Introduction to RFID
RFID in contactless payment
Integrating RFID with new devices
Appendix: Information sources
About Fusion Consulting
© 2005. All rights reserved. www.fusionc.com RFID – the future of contactless payment in Asia | 21-March-05 36
About Fusion Consulting
Clear strategic advice in Asia Pacific
A business intelligence consultancy
providing clear strategic advice
on Asia Pacific markets
Our mission
• To be the partner of choice for
pragmatic strategies in Asia Pacific
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About Fusion Consulting
Industry experience in 14 countries
Hong Kong and • Know their local markets and business practices Ganesh, Mumbai
MEng, 30 years in chemicals, IT, telecom,
• Have expertise in one of the industries we serve medical and financial services
Industry practices
BA and MPP, 24 years in healthcare,
biomedical, biotechnology and IT
Uday, Bangalore
Consumer & retail PhD, 21 years in IT and media
Pakinee, Bangkok
Chemical MSc, 25 years in medical and finance
Timothy, Beijing
Financial services MBA, 22 years in paper and packaging
Phyllis, Guangzhou
Industrial & logistics MCom, 5 years in corporate banking and financial
services
Information & communication K.K., Hong Kong
technology MBA, 11 years in equities and financial services
Putera, Jakarta
Life science MAC, 8 years in investment banking
Timothy, Kuala Lumpur
Media & leisure MBA, 9 years in telecom and chemicals
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About Fusion Consulting
Strategy from business intelligence
We start by understanding
more about your business, your Practical advice with evidence
strategic intentions and what you
already know about the market Analysis
• Benchmarking
Our consultants bring practical • Validating
expertise rather than academic Operational
• Frameworks
knowledge in the industry and experience
• Interpreting
their home market
We apply knowledge from one Secondary
data Common
industry to another so you benefit Cross-industry sense &
directly from the best practices knowledge
we have identified intuition
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About Fusion Consulting
Range of services
Understand your markets
Monitor your markets and competitors. Benchmark your ?
performance. ?
?
Market profiles ?
Customer intelligence
Market update service ?
Understand
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a business intelligence consultancy
delivering clear strategic advice on
Asia-Pacific markets
www.fusionc.com
more@fusionc.com
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