SINGAPORE: Consumers may soon access multiple secure online services using a universal token as early as the second half of 2011.
Assurity Trusted Solutions, a unit of the Infocomm Development Authority of Singapore, is currently looking to roll out the service with service providers, such as banks, brokerages and government agencies.
Instead of multiple tokens, users will be able to use the universal token to perform secure transactions such as online money transfer.
Currently, each bank requires its own token for the process, leading to multiple tokens for those who have accounts with several banks.
To encourage service providers to come onboard, the Assurity Trusted Solutions will offer its services free for the first two years upon commercial availability.
The token will also be offered free to Singapore citizens and Permanent Residents above 15 years of age who are customers with the service providers.
