Major initiative to help all hawkers to go cashless

Currently, even when hawker stalls accept cashless payments, they are littered with a jumble of payment systems that do not talk to one another, thus requiring customers to carry multiple cards or e-wallets.
Currently, even when hawker stalls accept cashless payments, they are littered with a jumble of payment systems that do not talk to one another, thus requiring customers to carry multiple cards or e-wallets. ST PHOTO: KEVIN LIM
Nets will also be the only touchpoint to reconcile accounts, and accommodate the entire range of payment schemes on its master network, addressing most of the pain points cited by hawkers.
Nets will also be the only touchpoint to reconcile accounts, and accommodate the entire range of payment schemes on its master network, addressing most of the pain points cited by hawkers. PHOTO: ST FILE

Up to 2 firms will be picked to unify e-payment systems and settle accounts with 12,000 stalls

One firm, or at most two, will be appointed in the biggest step yet to unify the fragmented e-payment landscape here and bring cashless payments to all 12,000 stalls at hawker centres, canteens and coffee shops in Singapore.

The appointed firms will act as "master acquirers" to supply hawkers with systems to accept e-payments and to settle accounts with the hawkers. They will be the only touch points to reconcile accounts, and they must accommodate the entire range of payment schemes on their master network.

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A version of this article appeared in the print edition of The Straits Times on August 16, 2018, with the headline 'Major initiative to help all hawkers to go cashless'. Print Edition | Subscribe