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

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

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