Micropayments By whytestalyon Dec 5, 1985 Formation of NETS (banks) Dec 5, 1987 Magnetic cards (LTA) Dec 5, 1990 New tech. Contactless card (LTA) Dec 5, 1996 CashCard (NETS) Dec 5, 1998 ERP and Parking paid for by CashCard Dec 5, 2000 IDA & NETS – looking for unified payment platform to become ISO standard Dec 5, 2002 Magnetic Card replaced by contactless multipurpose card Dec 5, 2002 Memorandum b/w EZ-Link and NETS for standardized platform Dec 5, 2003 NETS new CEO Dec 5, 2004 EZ-Link could be used for purchases at McDonalds Dec 5, 2004 CEPAS draft specifications released, released for public comments Dec 5, 2004 NETS rewards and loyalty program started Dec 5, 2005 CEPAS had second public review Dec 5, 2005 LTA & NETS started development of new card Dec 5, 2005 LTA new CEO Dec 5, 2006 NETS released combi card based on CEPAS v1 Dec 5, 2006 Common standard for e-purse cards Dec 5, 2008 Symphony for e-payments system was soft launched Dec 5, 2009 NETS flash pay card introduced (CEPAS v2) Dec 5, 2009 EZ-link felica cards stopped Dec 5, 2009 Introduced new backend system, did it for transaction processing and provide more real time services Dec 5, 2010 Added taxi payments Dec 5, 2010 10+ million cards issued Dec 5, 2010 Distance based fares vs zonal fares on city buses Dec 5, 2011 Clearing house implemented for processing all transactions (20 million transactions) Dec 5, 2011 NFC compatibility for phones Dec 5, 2011 NFP cards waived registration to encourage adoption Dec 5, 2012 More suppliers and cost of cards dropped to $2.50 Dec 5, 2012 Pay for parking Dec 5, 2012 McDonalds installed NFP readers Dec 5, 2013 LTA assessing NFC mobile payments for transit