Through Nets, merchants can now access 17 other local and international payment options.
SINGAPORE - The enhanced Singapore Quick Response Code Scheme is going further, with local and overseas merchants standing to gain from the improvements.
Through Nets, merchants can then access 17 other local and international payment schemes such as DBS PayLah, OCBC Digital, UOB TMRW, Alipay and PromptPay. The enhanced payment scheme will also be extended to the hawker segment, which is separate from retail and F&B categories.75 per cent of participating merchants indicated an interest in continuing participation in the scheme, while 86 per cent of financial institutions indicated a positive user experience.
In a release issued on Nov 7, Nets said it aims to grow the number of acceptance points by 10 per cent year-on-year. Mr Miguel Pereira Tanco, director of ZooMoov, which is a company operating rides for kids, said the firm can now accept multiple payment options with just one system. As more cross-border QR linkages get established, there is room for SGQR+ to integrate with more payment schemes in the region, in turn expanding consumer options and broadening the payments network.
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