NETS rolls out standardised QR code payments system at Tanjong Pagar Plaza Food Centre
Read more at http://www.channelnewsasia.com/news/singapore/nets-rolls-out-standardised-qr-code-payments-system-at-tanjong-9200604
Read more at http://www.channelnewsasia.com/news/singapore/nets-rolls-out-standardised-qr-code-payments-system-at-tanjong-9200604
(Updated: )
Read more at http://www.channelnewsasia.com/news/singapore/nets-rolls-out-standardised-qr-code-payments-system-at-tanjong-9200604
Ricky Lim ·
There
are indeed some issues that must be address before people can overcome
the hurdle of using smartphone for QR cashless payment :-
(1) incentive provided to persuade people to subscribe to data plan for those on voice plan or for those who did not subscribe to mobile phone.
(2) Ezlink, credit card (paywave), debit card - plastic cards just a wave and payment will be made. No complicated many steps to make payment. In addition, credit card provide monetary incentive.
(3) Need to train and get the seniors on baord.
This cashless payment via QR code using smartphone - is an important aspect of Digital Economy whereby - eCommerce transaction are effected by a mobile computer (smartphone) - an aspect of Disruptive Economy - that will contribute productively to the Economy - in terms of cost savings, efficiency and effectiveness in financial transaction - that will overcome the cost inefficiency of printing cash, distributing cash and managing cash.
It was estimated that billions of dollars a year is wasted in managing cash and coins.
(1) incentive provided to persuade people to subscribe to data plan for those on voice plan or for those who did not subscribe to mobile phone.
(2) Ezlink, credit card (paywave), debit card - plastic cards just a wave and payment will be made. No complicated many steps to make payment. In addition, credit card provide monetary incentive.
(3) Need to train and get the seniors on baord.
This cashless payment via QR code using smartphone - is an important aspect of Digital Economy whereby - eCommerce transaction are effected by a mobile computer (smartphone) - an aspect of Disruptive Economy - that will contribute productively to the Economy - in terms of cost savings, efficiency and effectiveness in financial transaction - that will overcome the cost inefficiency of printing cash, distributing cash and managing cash.
It was estimated that billions of dollars a year is wasted in managing cash and coins.
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Ricky Lim ·
(1) Many people now carry a smartphone - whether in work or leisure and become an important aspect of their lives.
People will charge their smartphone to last for a day and if run out of battery - will be backup and charge by portable charger.
(2) Many seniors are so proficient in using ATMs - pressing so many buttons - more complicated than just clicking on an icon - mobile apps in smartphone, scan the QR code with the retailers and just punch in the amount to be paid --- 3 steps.
Moreover, seniors need not queue up in ATMs and look for ATMs to withdraw and deposit cash --- everything can be done via the smartphone - to do internet banking transfer - a few click away.
(3) Retailers need not manage cash and coins, deposit cash and coins --- everything is deposited and pay via their account - and no overhead for retailers to handle cash.
People will charge their smartphone to last for a day and if run out of battery - will be backup and charge by portable charger.
(2) Many seniors are so proficient in using ATMs - pressing so many buttons - more complicated than just clicking on an icon - mobile apps in smartphone, scan the QR code with the retailers and just punch in the amount to be paid --- 3 steps.
Moreover, seniors need not queue up in ATMs and look for ATMs to withdraw and deposit cash --- everything can be done via the smartphone - to do internet banking transfer - a few click away.
(3) Retailers need not manage cash and coins, deposit cash and coins --- everything is deposited and pay via their account - and no overhead for retailers to handle cash.
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Reply · 16 mins
Ricky Lim ·
Taxpayers are the one that pay money to print, distribute and manage money, as well as plastic cards.
Using smartphone (scanning QR code) - taxpayers pay no money - to pay plastic money and coins and plastic cards - because everything is electronic.
Savings can be used for social benefits - to be paid to the people ---- and this make the entire Economy cost effective.
Using smartphone (scanning QR code) - taxpayers pay no money - to pay plastic money and coins and plastic cards - because everything is electronic.
Savings can be used for social benefits - to be paid to the people ---- and this make the entire Economy cost effective.
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Lee Henry ·
We
do agree that there are many benefits in going cashless. But we cannot
dismiss the real fears of seniors who simply do not have the means to
get a smartphone with data nor know how to operate one. At least with a
stored value card they still know how to go about tapping the card to
pay at foodcourts or public transport. Since they are already using a
cashless form(card to tap for payment), why still make QR code to
confuse them....in China I'm sure the elderly can read simple Chinese
and follow instructions...some of our elderly here however, are
illiterate, it's not a matter of train them and
they'll learn.......another of my concern here is young school going
children. When we go to food courts or hawker centres I always get my
children to buy their own food instead of sitting there waiting to be
served. If the QR code thingy becomes the only mode of payment, how are
young children without mobile phones going to buy food? These are real
concerns that I hope Parliament can provide some satisfactory answers to
tomorrow.
Lee Henry ·
And
I'm still curious: the QR code thingy only addresses payment for
certain places. Does it also pay for bus/mrt? It's still not a seamless
solution. Why not create one card(think HK 
🐙)
that can auto top up and be used for payment everywhere by everyone?
ERP. Public transport. Food courts. Hawker centres. Convenience stores.
Petrol kiosks. Shops everywhere. Entertainment outlets. Entry to places
of interest. Payments at govt agencies. Wherever payment needs to be
made, just tap your card.
🐙)
that can auto top up and be used for payment everywhere by everyone?
ERP. Public transport. Food courts. Hawker centres. Convenience stores.
Petrol kiosks. Shops everywhere. Entertainment outlets. Entry to places
of interest. Payments at govt agencies. Wherever payment needs to be
made, just tap your card.
Winston Ling ·
cashless
payment is supposed to be faster than cash, if the time it takes to
launch the app, scan the QR code, and enter the amount, is longer than
it takes to hand over a $2 note and get change. then the cashless
payment would have failed.
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