In cashless Singapore, there is no place for e-wallets

Options like PayNow, available to retail customers of nine participating banks in Singapore, allow for secure, instantaneous payments.
Options like PayNow, available to retail customers of nine participating banks in Singapore, allow for secure, instantaneous payments.PHOTO: MCI

They make very little sense in a hyper-banked nation like S'pore - so let's cut the fat

Singapore has begun its cashless journey, but it is still in the early phases.

A quick snapshot: Systems like Giro and Nets have existed since the 1980s when it comes to consumer-to-business payments.

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A version of this article appeared in the print edition of The Sunday Times on May 26, 2019, with the headline 'In cashless Singapore, there is no place for e-wallets'. Print Edition | Subscribe