Singapore Rolls Out Unified e-Payment System

Finally, a unified payment system is rolling out in Singapore. I have been waiting for it for the longest time. Currently, about 500 hawker stalls are equipped with it.

Background

Some background on the initiative (based on my interpretation). In Singapore, we have many vendors embracing technology with unique payment systems. Some are by QR codes and some are by payment terminals and these payments methods don’t “talk” to one another.

And because of that, many businesses are using various terminals or QR codes to support them. This created a messy payment system here. Moreover, it is not attractive to vendors at hawker centers to use them as there are too many variables (systems) just to let customers pay for food.

To embrace the direction of our Government for Singapore to become a Smart Nation, Nets is appointed to unified e-payment systems into a simplified all-in-one cashless payment solution.

Finally, the “solution” has arrived with the introduction of SGQR and a unified payment device.

Some of you may have seen SGQR codes setup in some businesses. Now, with the rollout, you are going to see more of them, especially at hawker centers or foodcourts.

What are the Payment Methods and Accepted Payment Types?

There are three ways that you can make payment with the unified e-payment system – Tap, Scan and Insert.

These are the accepted payments (as of today).

Where Can You E-Pay?

Currently, 22 coffee shops, 10 hawker centers and 12 industrial canteens are equipped with this e-pay system (as of today). I believe the list will keep growing.

Click Here to Check Out Where You Can E-Pay

Currently, there are some promotions if you use this E-Pay system. You can check them out here!

BTW, currently, the e-payment system is rented to hawkers FOC for the first three years after they sign up with Nets. And the transaction fees of 0.5 percent will be borne by the Singapore Government during this period.

Based on the information, stalls have until August 2020 to apply for the fee waivers.

BTW, if you don’t see your favorite foodcourt or hawker center with this initiative, please help to let them know.

I hope more businesses can use it as I believe the future is e-Wallets and App payments. What is your opinion on it? Agree or disagree?