Payments News

On The Web

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Global

SG govt pushes for mobile payments with unified QR code

“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 […]
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Global

All Of Singapore’s Government Services Will Go Digital By 2023, With More Public Servants To Be Trained In Data Analytics

“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 […]
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Global

Singapore And India Set Up Joint Working Group To Advance In FinTech Cooperation

“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 […]
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Global

Bridging the last mile in digital payments

“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 […]
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Global

HOW CASHLESS MAINLAND CHINA MADE HONG KONG, SINGAPORE LOOK BACKWARD

“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 […]
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Global

Singtel adds international m-payment capabilities to Dash app

“Singapore operator Singtel has expanded the payment capabilities of its all-in-one mobile payments app dubbed ‘Dash’, to include international mobile payments. Dash customers can now use their Visa Virtual Account on the Dash app at millions of online retailers worldwide and merchant points that accept Visa Contactless Payments. In addition, customers can also use Dash […]
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Global

Ride-hailing firms boost e-payment adoption in Singapore

“Singapore continues to lead in digital payment services adoption across Southeast Asia with 52% of Singaporeans already using such services, according to Google and Temasek’s e-Conomy SEA 2018 report. It was followed by Indonesia and Malaysia at 46% and 45%, respectively.”
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Global

Rise of the QR code for mobile payments in Singapore

“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 […]

On The Wires

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Companies

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 […]