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

[scroobal]

With PM calling for help after the dismal failure of the government, the civil service and the GLCs, lets guess what sort of country-wide e-payment proposal will Razer make to the PM as he claimed that he managed to assemble the industry e-payment expert.

Here are 2 versions that are already in production world wide as well as in Singapore;

1) Stored value card such as HK Octopus where a smart chip stores the value and it can be used for island wide transport, retail shops, utilities etc. Similar to our SMRT Bus Cards but more readily accepted.
- no phone app but merchant need point of sale terminal needed

2) QR code such as that launched by DBS. DBS has signed up with Comfort taxi and will now target retailers, hawkers etc.
- phone app but can be used with or without point of sale terminal. Merchant only needs to display a static QR code and customer only keys in value after capturing the code. Merchant gets an sms on his phone acknowledging value of payment made.

3) Something that has never been introduced before.

Here is the DBS QR code version where the Credit Card Terminal displays the QR code and records payment received.



My guess is (2) QR code and might as well ask MAS to roll it out for all banks similar to Nets. Smart Nation bedrock is the use of the mobile phone for identity and payment authentication. For small vendors and makers, it will the static QR displayed on stall front with payments acknowledged thru telephone sms or a small display unit. No need for small vendors to maintain any equipment.

 

[Scrooball (clone)]

This Tan Min Liang quite dua kang yao siu. I think what he meant was being able to roll out across the island at selected merchants, but unlikely to be every single merchant.

Why don't the govt just expand on payment from Ezlink card? Simplest way to pay. Even aunties know how to do it.

 

[JHolmesJr]

Re-posting as it's more relevant here:

I have a strange feeling this whole thing has been a set up and is being publicly played out to bring to life this new "PASSION MADE POSSIBLE" proposition.

Cant trust these fookers …. everything has most likely already been decided….it just looks more dramatic to make it look like a chance tweet that ignited the PASSION
of the razor ceo….look we are the place where passion is made possible. Voila!

Can you imagine such a cavalier attitude to producing such a vital service when the old man was in charge?

 

[Satyr]

Re-posting as it's more relevant here:

I have a strange feeling this whole thing has been a set up and is being publicly played out to bring to life this new "PASSION MADE POSSIBLE" proposition.

Cant trust these fookers …. everything has most likely already been decided….it just looks more dramatic to make it look like a chance tweet that ignited the PASSION
of the razor ceo….look we are the place where passion is made possible. Voila!

Can you imagine such a cavalier attitude to producing such a vital service when the old man was in charge?

As befits a wayang...

 

[creampie]

A copy of Wechat Pay.

Sinkies have to download an app, register their details by submitting front and back peektures of IC to create an account
Transfer funds from bank accounts and link credit card to app wallet and make payment from there

Fund transfer to other wallet holders by account name
Merchants get a QR code that will be scannable by customers

App will eventually grow to accommodate purchase of services like movie bookings, airplane tickets, utility bills and mobile phone bills

There is no genius or pioneering spirit here. the technology is already out there

 

[zhihau]

Can you imagine such a cavalier attitude to producing such a vital service when the old man was in charge?

Why not stretch it further? Think Smart Nation, Big Data, Li Hong Yi. Voila!

 

[Seee3]

Re-posting as it's more relevant here:

I have a strange feeling this whole thing has been a set up and is being publicly played out to bring to life this new "PASSION MADE POSSIBLE" proposition.

Cant trust these fookers …. everything has most likely already been decided….it just looks more dramatic to make it look like a chance tweet that ignited the PASSION
of the razor ceo….look we are the place where passion is made possible. Voila!

Can you imagine such a cavalier attitude to producing such a vital service when the old man was in charge?

Hahaha. Don't know if you are really guessing. Nvm, impt thing is to be right most of the times.

 

[Reddog]

QR Payment. No need to reinvent the wheel. Just call Jack Ma, who promised Carrie Lam to make HK cashless.

 

[Scrooball (clone)]

Anything that requires a download of an app is a fail! Those lao aunties or uncles won't know how to use right. So why bother with this lameass payment scheme? What is wrong with the existing EZlink payment scheme?

 

[creampie]

In sinkieland u adapt or die. Old and stupid people have always been left behind. Do u think LHL cares abt a group of foolish elderly who will gladly vote PAP because they enjoyed the progress in the 70s - 90s?

NETS and ezlink systems require businesses to install device readers which cost money.

With an app, any ah beng ah seng hawker can just display his QR code and collect money for his takings which will be monitored and taxed by IRAS

 

[CoffeeAhSoh]

Why not stretch it further? Think Smart Nation, Big Data, Li Hong Yi. Voila!

Unless the customers are tourists hawkers and stallholders will not implement the payment system fully.


You will hear : machines down ...no battery etc... system down etc...

 

[nayr69sg]

Anything that requires a download of an app is a fail! Those lao aunties or uncles won't know how to use right. So why bother with this lameass payment scheme? What is wrong with the existing EZlink payment scheme?

U mean those auntie uncle still using Teletex on TV to trade stocks? I think most of them have died already lah.

 

[tanwahtiu]

These are still outdated. More new version of technology no need to recommend to pap.

Dubiou title of copycat king goes to pap. Nothing proven lky dont touch cause bad for his pia kia reputation if fail. And pai kia got reputation to protect meh?

Can make money or not? Copycat is safe road taken for pap and then later claim Hub title.

 

[scroobal]

Look at the report yesterday. The PM was either playing around with Razor Tan or just being polite. Apparently the Association of banks and MAS have already built the backbone on the existing interbank transfer protocol that involves 19 banks. Pay Now is now used by 9 banks where all one needs is a bank issued phone app and the intended recipient's NRIC or Telephone.

The next step is getting retailers, hawkers and other merchants to accept this payment system. So far, DBS and OCBC are ready with QR code capability where the QR replaces the phone or NRIC.

The Govt has already planned RFI and RFP for payment acceptance.

There are also some conditions that must be met
- primary key is phone and phone app
- must be inter operatable with card scheme- VISA / MCI / Amex etc - so option for cards to load onto wallet. These are now common among such applications.

I am sure at the end of the day, the whole thing will be given to Nets to manage.


http://www.straitstimes.com/singapo...s-at-hawker-centres-heartland-shopsGovernment crowdsourcing ideas for cashless system at hawker centres, heartland shops
A customer paying for her purchase via FlashPay at a drinks stall in Beo Crescent Market and Food Centre.

PUBLISHED6 HOURS AGOUPDATED2 HOURS AGO

Irene ThamSenior Tech Correspondent
SINGAPORE - What e-payment technology will work at the hundreds of hawker centres, coffee shops and heartland shops in Singapore?

Four government agencies have put out a Request for Information (RFI) to crowdsource ideas to find the answer, in what is Singapore’s first coordinated effort on e-payment at these places where cash is king.

The four agencies are the National Environment Agency, Housing and Development Board, Monetary Authority of Singapore and the Smart Nation and Digital Government Office.

In a joint statement on Friday (Aug 25), they said: “Given the low-value transactions in these places, the solution must be affordable for the merchants, for payments between them and their customers and between them and their suppliers.”

The move is in line with Singapore’s Smart Nation push, and comes after Prime Minister Lee Hsien Loong said in his National Day Rally speech on Sunday that Singapore is lagging behind many cities in going cashless.

According to documents seen by The Straits Times, the four agencies said the desired solution should include PayNow, an instant fund-transfer system launched last month, and should interoperate with international schemes such as Visa or Mastercard.

Transaction fees imposed on merchants should also be negligible or standardised so that merchants are not inclined to accept one payment scheme over another.

“A settlement within the same day would be viewed favourably,” the agencies said in the document, addressing hawkers’ and merchants’ concerns over cash flow.

The problem today is that many e-payment schemes – although commonplace at foodcourts, supermarkets and department stores – are not interoperable.

“Ideally, payment solutions should be interoperable to minimise possible fragmentation of the e-payment space.”

Insights from the RFI will help the four agencies prepare a Request for Proposal to co-create solutions with the private sector, or kick-start procurement processes for the e-payment solution to be deployed at hawker centres, coffee shops and heartland shops.

Those interested can access the RFI on government procurement website GeBiz from Friday. The closing date for submission is Sept 15 this year.

 

[scroobal]

WeChat is now being pushed in Africa as well. Its a complete solution and there are other utilities.

A copy of Wechat Pay.

Sinkies have to download an app, register their details by submitting front and back peektures of IC to create an account
Transfer funds from bank accounts and link credit card to app wallet and make payment from there

Fund transfer to other wallet holders by account name
Merchants get a QR code that will be scannable by customers

App will eventually grow to accommodate purchase of services like movie bookings, airplane tickets, utility bills and mobile phone bills

There is no genius or pioneering spirit here. the technology is already out there

 

[scroobal]

Pay Now schematic which is now operational - only needs merchants to accept. I am sure the Govt will force the Banks to drop the %fee for merchants to allow ubiquitous acceptance.

 

[tanwahtiu]

Pap is a big loser in the end. With no local nsf sinkie talents in sight can only humblely copycat otger countries and use their backside as their face.

 

[gatehousethetinkertailor]

http://www.newyorker.com/magazine/2016/10/10/imagining-a-cashless-world

 

[Lestat]

His efforts are in vain..

SINGAPORE: An industry taskforce looking at the development of a common QR code for Singapore has been formed, as Singapore continues its push to making cashless payments more pervasive as part of its Smart Nation vision.
The Monetary Authority of Singapore (MAS) said on Tuesday (Aug 29) that the taskforce - called SGQR - aims to have in place standardised QR specifications to accept both domestic and international payment schemes by the end of 2017. It will also consider the governance structure and implementation strategy for QR payments, it said.
The central bank said debit and credit card schemes worked well for large merchants and retailers, but these solutions were often not feasible for smaller merchants who preferred an infrastructure-light and cheaper solution.
However, the proliferation of more proprietary QR codes at these merchants risks fragmentation of payment solutions and inefficiency among merchants and customers - an issue Prime Minister Lee Hsieng Loong highlighted during his National Day Rally speech this year.
As such, the Payments Council members said a common QR code could facilitate payments among different payment schemes, e-wallets and banks, according to the MAS press release.
"It would help make payment transactions simple, swift, seamless and safe for everyone."

The industry taskforce set up to develop the common QR code, and will be co-led by the MAS and the Info-communications Media Development Authority (IMDA). Other members include government agencies such as the Housing and Development Board, National Environment Agency and SPRING Singapore.
Non-government partners include Alipay Singapore E-Commerce, Singtel, NETS, UnionPay International as well as financial institutions such as DBS Bank, OCBC Bank, United Overseas Bank, Mastercard and Visa.

 

[scroobal]

Thanks bro for this, I missed it.

I agree. Poor fellow got stringed along by the PM. The Banks with MAS in the know have done 90% of the work on the technology side and all that remains is persuading the small merchants and hawkers to take it up. To these people they do not have time to maintain a pos terminal and or pay rent for it so they have to decide on smart phone message acknowledging payment which means looking at the phone or a customised display unit via bluetooth to show their incoming confirmed payment messages. Not that hard to implement.

Anyway, the QR has been in the market place in many countries and there are millions of users, so nothing new to prove. The government can facilitate by forcing the banks to cut down on the fee which is in the 2 - 3% zone. Both DBS and OCBC have the complete QR solution from A to Z in production so its the matter of fee and merchants persuaded to take it on.

Small merchants and hawkers are also concerned about paying taxes but I know that IRAS has been on the ball with their teams tagging hawkers for the last 10 years, so it does not matter if they are auditable or not.

His efforts are in vain..

SINGAPORE: An industry taskforce looking at the development of a common QR code for Singapore has been formed, as Singapore continues its push to making cashless payments more pervasive as part of its Smart Nation vision.
The Monetary Authority of Singapore (MAS) said on Tuesday (Aug 29) that the taskforce - called SGQR - aims to have in place standardised QR specifications to accept both domestic and international payment schemes by the end of 2017. It will also consider the governance structure and implementation strategy for QR payments, it said.
The central bank said debit and credit card schemes worked well for large merchants and retailers, but these solutions were often not feasible for smaller merchants who preferred an infrastructure-light and cheaper solution.
However, the proliferation of more proprietary QR codes at these merchants risks fragmentation of payment solutions and inefficiency among merchants and customers - an issue Prime Minister Lee Hsieng Loong highlighted during his National Day Rally speech this year.
As such, the Payments Council members said a common QR code could facilitate payments among different payment schemes, e-wallets and banks, according to the MAS press release.
"It would help make payment transactions simple, swift, seamless and safe for everyone."

The industry taskforce set up to develop the common QR code, and will be co-led by the MAS and the Info-communications Media Development Authority (IMDA). Other members include government agencies such as the Housing and Development Board, National Environment Agency and SPRING Singapore.
Non-government partners include Alipay Singapore E-Commerce, Singtel, NETS, UnionPay International as well as financial institutions such as DBS Bank, OCBC Bank, United Overseas Bank, Mastercard and Visa.