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Cashless but confusing: Can Singapore fix its digital payments system?
QR code complications are the tip of the iceberg. Instead of tinkering with legacy systems, a bold transformation is needed.
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The writer says that the average Singaporean consumer faces multiple cashless payment choices, but not always true convenience.
PHOTO: LIANHE ZAOBAO
Daniel Rabetti
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Visit a hawker centre, and you see stalls with many different QR codes displayed. It’s a boon for someone who’s not carrying cash – but the questions arise: Which code to scan? And which payment app to use?
Scan a Nets QR code with your Google Pay app – and it won’t work. Try a SGQR (Singapore Quick Response) code, and you’ll be asked which wallet to pay from. In practice, most people open their bank or wallet app first, log in, choose an account, then scan – oddly cumbersome in one of the world’s most digital economies.
