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November 14, 2018
On the web
Rise of the QR code for mobile payments in Singapore
Tech Trade Asia
“As Singapore accelerates its journey towards a cashless society, the use of mobile payments* is gaining traction among Singaporeans. According to The Future of Payments Study** conducted by UnionPay International and Nielsen with 400 Singapore consumers aged 18 to 65, 58% of Singaporeans have used at least one form of mobile payment in the past three months, and close to one in four (23%) mobile payment users have used the three key mobile payment methods – QR code, peer-to-peer (P2P) transfers and contactless payments – within the same period.”
October 9, 2018
On the web
HOW CASHLESS MAINLAND CHINA MADE HONG KONG, SINGAPORE LOOK BACKWARD
South China Morning Post
“Like Hong Kong with its Octopus card, Singapore was an early adopter of e-payment systems, starting with the introduction of the General Interbank Recurring Order (GIRO) in 1985, which allowed people to make monthly payments to a billing organisation directly from their bank accounts. But since those early days both cities have found themselves leapfrogged in the race to the cashless society by mainland China’s burgeoning mobile payment scene.”
September 20, 2018
On the web
Bridging the last mile in digital payments
Business Times (Singapore)
“Over 19,000 QR codes will be replaced with SGQR codes from this month. Currently, several QR codes can be displayed at one retailer to support various e-payment schemes, which can confuse consumers. At the same time, the Government said it would open the interbank payment gates to fintech firms by 2019. Allowing non-bank players to get direct access to the national Fast and Secure Transfers (FAST) transaction system is expected to lead to greater innovation and better cashless payments services for consumers.”
September 18, 2018
On the web
SG govt pushes for mobile payments with unified QR code
Marketing Magazine
“The government of Singapore has launched the Singapore Quick Response Code (SGQR) which combines multiple payment QR codes into a single SGQR label, making QR code-based mobile payments simple for both consumers and merchants. The SGQR was developed by an industry task force co-led by the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA). It will be adopted by 27 payment schemes including PayNow, NETS, GrabPay, Liquid Pay and Singtel DASH and will be deployed progressively over the next six months.”
June 5, 2018
On the web
All Of Singapore’s Government Services Will Go Digital By 2023, With More Public Servants To Be Trained In Data Analytics
South China Morning Post
“Fresh from announcing the Digital Readiness Blueprint to help every Singaporean navigate a digital future of cashless payments and other innovations last Saturday, the Government laid out its own targets in the Digital Government Blueprint. For instance, the SingPass Mobile app to be implemented later this year will enable users to access government services without the need for physical tokens or SMS passwords, said Deputy Prime Minister Teo Chee Hean at the start of the Smart Nation Innovations Week at the Marina Bay Sands. The app will allow Singaporeans to “pay our bills or sign documents online, apply for public housing”, and even “buy or sell a house or a car”, said Mr Teo.”
June 4, 2018
On the web
Singapore And India Set Up Joint Working Group To Advance In FinTech Cooperation
OpenGovAsia
“According to the press release, Singapore and India have already achieved good progress in FinTech co-operation. Singapore’s key domestic payment system operator NETS and India’s umbrella organisation for all retail payments National Payments Corporation of India (NPCI) have entered a partnership to establish a cross-border payment linkage between Singapore’s PayNow and India’s Immediate Payment Service (IMPS). The cross-border linkage will facilitate real-time fund transfer between bank accounts in India and Singapore to support trade, tourism and remittance.”
March 14, 2018
On the wires
Adyen Doubles its Point of Sale Client List in 12 Months and Extends Unified Commerce Offer to Singapore
“Adyen, the payments platform of choice for the world’s leading companies, today announced the launch of its point of sale (POS) offering in Singapore, extending its unified commerce footprint to 27 countries and more than 4,000 cities. Highlighting the potential of Adyen’s growth in the point of sale space, new clients include ASICS, Schuh, Lush, City Sightseeing, Dunkin Donuts, Hema, Stedelijk Museum Amsterdam, Coolblue, Action, amongst many others.”
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