Smart Nation

Myriad e-payment choices, but cash is still king

A better pre-school education, a fight against diabetes and a drive to be a Smart Nation were highlighted by Prime Minister Lee Hsien Loong at his National Day Rally last year as efforts that could benefit Singapore in the long run. A year on, The Straits Times looks at progress and challenges in these areas.

Consumers have to install different apps for different payment services now, and that makes cash easier for both businesses and customers.
Consumers have to install different apps for different payment services now, and that makes cash easier for both businesses and customers.ST FILE PHOTO

On entrepreneur Hazree Mohamad's mobile phone is a folder with GrabPay, DBS iBanking and FavePay - three different e-payment applications that he uses to pay for his food and shopping.

And if these options are not available, the 26-year-old can also tap his phone or debit card on one of the many readers at the cash register. "But I still use cash pretty regularly," he said. "Cash is accepted everywhere, and it is easy to find an ATM in Singapore."

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A version of this article appeared in the print edition of The Straits Times on August 18, 2018, with the headline 'Myriad e-payment choices, but cash is still king'. Subscribe