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 OCBC's PayAnyone, UOB's Mighty and, from November, DBS' PayLah. 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.