Chitchat Guess the E-payment that Razer Tan is going to propose to PM

[creampie]

I do agree on the part of equating it to war to some extent but at the very least in his exe summary he should hint of his ability, capability and the weapons that he has in his arsenal. He of course would be guarded on strategy and tactics. The exec summary tells that he has no clue what he is doing, or even he knows what good looks like. It like the the drunk ang mo who picked a fight with a small sized Singaporeans along Orchard Road, and the Singaporeans took a stick and walloped him good and proper.

Razer sent the 36-page proposal to the Prime Minister's Office, MAS and the Smart Nation and Digital Government Office on Thursday, making publicly available a nine-page executive summary.


there are 27 more pages that he did not reveal to public eyes. it is more of a concept plan than a working manual of how each step is to be done, and thats fine because Razer hasnt yet hired engineers and product developers to come up with the product but is in the process of doing so.



What he has going for him is his ability to deploy capital to hire talented engineers, and Razer's small size which will allow him to move faster than the 9 banks. Remember, for small firms to survive, they must work their butts off.

Middle managers in the local banks in charge of their epayment system do not have their skin in the game, there is no immediate payoff for them so they are not incentivised to see it through. There is also internal politics within the banks on lowering the fees for the payment app. An outsider is better suited to implement a proprietary system independent of big company politics

 

[Hangover]

He is not serious or qualified about this.

He has a webpage for his proposal and honestly, many final year business student project will be of higher standard and substance than his proposal.

 

[scroobal]

Either the PM and cabinet had no idea about these developments or was just doing a PR spin to drive acceptance by small traders and hawkers.

Clearly Nets and the local banks are already in it.

After this what is Razer Tan and his $10m going to deliver?


http://www.channelnewsasia.com/news...ed-qr-code-payments-system-at-tanjong-9200604

NETS rolls out standardised QR code payments system at Tanjong Pagar Plaza Food Centre
Customers can now pay for their meals at Tanjong Pagar Plaza Market and Food Centre by scanning a quick response (QR) code with their mobile devices, after NETS rolled out its first standardised QR code on Saturday (Sep 9).
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By Lee Li Ying
09 Sep 2017 02:29PM
(Updated: 09 Sep 2017 10:58PM)
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SINGAPORE: Customers can now pay for their meals at Tanjong Pagar Plaza Market and Food Centre by scanning a quick response (QR) code with their mobile devices, after NETS rolled out its first standardised QR code on Saturday (Sep 9).

The code can accept payments from different banking apps including DBS' PayLah!, OCBC's PayAnyone and UOB's Mighty. Currently, 47 stalls at the food centre accept payments using the QR code, while three stalls have not taken it up.

To use the system, consumers scan the code displayed at the stall before keying in the payment amount. Hawkers will get a single settlement report that consolidates all different payment types every month.

NETS is bearing the cost of installation for the QR codes, and will waive rental charges for the backend system for three years. The payment network plans to include other payment wallets in the future, and expand this payment method to 30 hawker centres by end-2017.

This initiative comes amid a push for greater adoption of electronic payment solutions, in line with Singapore's Smart Nation ambitions. PM Lee Hsien Loong had announced in his National Day Rally speech last month that efforts are underway to simplify and integrate Singapore's e-payment systems, including making it available at hawker centres.

Four Government agencies have also announced a joint push to develop e-payment solutions for hawker centres, coffee shops and other shops in Singapore's heartland.

About S$1 billion in cash-based transactions take place across 6,000 hawker and food stalls in Singapore every year, according to NETS CEO Jeffrey Goh.

"If Singapore had to make the push towards a cashless society and deliver on the Smart Nation vision, this is an area that needs conversion. (QR codes) are easy to use and relatively simple to deploy," he said

 

[scroobal]

 

[Hangover]

GrabPay is very popular too

Many Grabhitch drivers will only drive passengers who pay via GrabPay so that they don't need to provide small change.
Now, this is one point that makes GrabPay successful.

The same theory goes for EzyLink and Vis PayWave (no signature required for transactions less than $100)

 

[scroobal]

It's going to be an interesting race with 6 players already in the market with QR and applying the same operating model except that they are not interoperable and acceptance % would be the main driver. Both customers and merchants will veer to the one that has highest acceptance if fees are the same.

The banks are using the same interoperable platform with Nets and MAS payment transfer mechanism and Grabpay has market share because of fleet. Others will likely fall off.

 

[Hangover]

Apple is expected to announce FaceID for apple pay verification.
http://www.pocket-lint.com/news/142207-what-is-apple-face-id-and-how-will-it-work

 

[Hangover]

NetsPay hit by glitch on launch day
http://www.todayonline.com/singapor...users-face-difficulties-setting-mobile-wallet

 

[CoffeeAhSoh]

/

as of today 13 nov Tan M L is a multi billionaire:

SINGAPORE (BLOOMBERG) - Razer climbed on its first day of trading as the maker of computer accessories for gamers became the second technology stock in a week to jump in its Hong Kong debut on Monday (Nov 13). The stock rose to as high as HK$5.49, 41 per cent above the HK$3.88 price of its initial public offering. The San Francisco and Singapore-based company raised HK$4.1 billion (S$721 million) in the IPO. Razer is the latest in a wave of technology listings in Hong Kong, coming just days after e-book publisher China Literature soared 86 per cent on debut

 

[CoffeeAhSoh]

.

Razer, with backing from Singapore's sovereign wealth fund and Hong Kong billionaire Li Ka-shing, produces a suite of products for gaming enthusiasts, from computer mice to performance laptops. It's now expanding into smartphones with a US$699.99 Android device that is designed specifically for gameplay. Chief executive officer Tan Min-Liang, a gamer himself who owns about 42 per cent of the company with his family, is set to become a billionaire following the public offering, according to the Bloomberg Billionaires Index

 

[CoffeeAhSoh]

.

s t didnt mention Lee H Y's stake :(

 

[zhihau]

Chief executive officer Tan Min-Liang, a gamer himself who owns about 42 per cent of the company with his family, is set to become a billionaire following the public offering, according to the Bloomberg Billionaires Index

Altogether now!!! Super Duper Loud Loud!!! HUAT AH!!!