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Different e-payment modes integrated by end-2018

September 18, 2018

 

Customers will be able to use 20 payment schemes, which includes CEPAS transport cards such as EZ-Link, concession cards, and NETS FlashPay, and mobile payment applications when dining at food centres. The first batch of 10 payment schemes will go live by the end of 2018. By August 2019, customers can choose up to 20 payment schemes through a unified touchpoint.

“In Singapore, about 40% of dining occasions take place at coffee shops, hawker centres, and canteens. With technology becoming such an integral part of our urban lifestyles, the government is enhancing the dining experience by providing customers with a unified e-payment solution where transactions can be made easily, quickly and securely,” said Enterprise Singapore deputy CEO Ted Tan.

The integration of cashless payment devices into our daily lives truly shows the government’s effort in promoting a Smart Nation. Not only having these smart devices in previously-already-developed areas, but also into less tech-savvy environments.

Merchants will be given SGQR, a unified payment system for them to accept and process transaction from 20 different payment modes.

Payment transactions will be credited directly into the merchant’s bank account within one day after closing of their business, for transactions made before 11 p.m.

Merchants will also be offered the option of integrating their e-payment terminal with their point of sales (POS) system where applicable, to better measure sales performance and consumer purchase behaviour.

MegaPOS is looking forward to the new scheme and we are making our utmost effort to make it efficiently integrated to our POS solution.

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