pstrongA single financial institution will help unlock local and global payment.
Singapore's central bank will conduct a trial of the Singapore Quick Response Code Scheme through a proof of concept , which will test the interoperability of QR payment from a variety of payment schemes through solely a financial institution.
"Merchants will only need to sign up with a single financial institution to unlock a diverse range of local and cross-border payment schemes," said MAS. During the POC, SGQR+ will be launched with 23 payment schemes in more than 1,000 merchant acceptance points at the venue of the Singapore FinTech Festival and in the Changi district."With SGQR+, consumers can look forward to using their preferred payment applications at more merchant acceptance points," said MAS.
"This solution is currently available to merchants that are part of the Government-subsidised Hawkers Go Digital programme," read the statement.However, there was a need to enhance its interoperability as merchants who want to accept a range of payment schemes need to maintain commercial relationships with different financial institutions....there are many ways you can work with us to advertise your company and connect to your customers.
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