Read more at https://www.channelnewsasia.com/news/singapore/hawker-centres-coffee-shops-e-payments-maxwell-chomp-zion-11672838
(Updated: )
Danny Lum
(1) Such ePayment system will lower the cost of business - as there is less need to draw cash, count cash and coins, deposit cash and coins, print less money, mint less coin, lug heavy bags of coins to bank and vice versa and manage cash transaction --- which is costly and time-consuming.
(2) Since everything is transfer from bank account to another bank account - all the overhead, cost and time-wasted in managing cash is eliminated --- that will result in lower cost of business and greater profit.
(3) In long run, the business can keep the food price low and affordable - and less need to increase the food price to recover the cost of maintain physical cash ---- a win-win for hawker, customer and banks.
(2) Since everything is transfer from bank account to another bank account - all the overhead, cost and time-wasted in managing cash is eliminated --- that will result in lower cost of business and greater profit.
(3) In long run, the business can keep the food price low and affordable - and less need to increase the food price to recover the cost of maintain physical cash ---- a win-win for hawker, customer and banks.
Abdul Hameed
Those Hawkers Evading Tax Or Under Declaring Has Little Time Left Before Fully E Payments Is Enforce.
Hmmmmm.....
Incresing Tax Revenues.?
Hmmmmm.....
Incresing Tax Revenues.?
KT Tan
I wonder whom would be the authority backing the plan to protect potential hacking of the poor consumer victims' account (if it happens). I am worried that commercial companies would just declare financial red alert and attempt to have voluntary wind-up once the monies have been significantly received......(i.e. the gym that winds up in Singapore claiming financial hardship, and opening one exactly on the same day of closure (in Singapore), at another Asian country.....
Also, please honor the legal tender (cash) payment option, as not everyone subscribes to mobile internet services that bind consumers with annual subscriptions (i.e. senior citizens with visual issues, foreign travellers, overseas-based citizens returning home for a short break).
Unless there is assurance from the governing authority on the safe usage, I personally would prefer to settle by cash. I remember going through the hardship of the card system at one of the airport terminals previously....it is such a pain in the neck and does not add essential value to consumers (pay cash to buy card, and after meal, go back and get the balance refund)....
Additional queue and waiting time, at the potential risk of not getting a seat once the food is collected....Fill in the form, to fill in the form. Meet to meet.....
Also, please honor the legal tender (cash) payment option, as not everyone subscribes to mobile internet services that bind consumers with annual subscriptions (i.e. senior citizens with visual issues, foreign travellers, overseas-based citizens returning home for a short break).
Unless there is assurance from the governing authority on the safe usage, I personally would prefer to settle by cash. I remember going through the hardship of the card system at one of the airport terminals previously....it is such a pain in the neck and does not add essential value to consumers (pay cash to buy card, and after meal, go back and get the balance refund)....
Additional queue and waiting time, at the potential risk of not getting a seat once the food is collected....Fill in the form, to fill in the form. Meet to meet.....
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