Cashless Singapore – Yes or No?Reading Time: 3 minutes
Have you heard?
By 2020, passenger service centres and automated ticketing machines at MRT stations will no longer accept cash! That means commuters will have to pay by either credit card, debit card or nets…
Besides public transport, there are a couple other ways that Singapore has been transitioning into a cashless society. Here’s a couple of up and coming (as well as current) things to look out for!
Gone are the days where you realise there are no coupons in your car (😱) after parking outside your favourite Mee Pok store… With this app installed, all you have to do is pick your location, key in your credit number and viola! The best part is that charges will be calculated based on a per-minute basis, with refunds given if parked for a shorter period of time than expected. This app will be launching in October 2017 (just around the corner!) so keep your eyes peeled…
Just earlier today (22nd August!), Alipay inked a brand new deal with local start-up CCPay to expand it’s 20,000 strong acceptance points in Singapore. Currently, Alipay users must either have a China banking account or a China bank-issued card but according to Alipay, the huuuuge payment playform will soon be open to Singapore banking users as well. Leaves us to wonder about the exchange rates but imagine the convenience when you head over to China for a holiday ✈️
You’ve probably already heard of this, but if you haven’t started using this yet, it’s a good time to get started! According to this CNA article, PayNow will also be rolling out a QR system (similar to WeChat Pay) sometime soon. Maybe we’ll all be paying for our Bak Chor Mees and pratas with our phones soon?
Ever kena fine because you forgot to top up? With vCashcard (under NETS), you’ll never have to worry about that again! All you have to do is pay a small subscription fee, sign up at this website, and everytime you go past an ERP, the charges will be directly billed to your linked credit/debit card (the IU can be left empty). I don’t know why I’ve never heard of this before, but I’m going to sign up right now!
How many times have you walked out of your house and reached the bus stop, only to realise that your EzLink is in that other bag you used yesterday?!?!! Too many to count, right? But did you know…? You can use your phone as an EzLink as well! Simply head over to the EzLink website, check out if your phone model/network carrier is eligible and ta-da! You’ll be paying for your bus/mrt trips with your phone in no time.
What do you think about Singapore as a cashless society? Full speed ahead or no-go?
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