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Old 18-08-2017, 06:58 PM   #2184
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Join Date: Nov 2007
Posts: 17,337
Also, if I'm not wrong MAS also doesn't like any company to hold any funds for mobile payment or card payment, unless it's those reloadable cards for kopitiam. Because kopitiam does not involve mobile payment in which a company can rope out millions of funds from stored wallet. Kopitiam in fact is one of the rare kinds which can hold funds, similar to Starbucks.

If I'm not wrong also, that is also the reason for why weChat payment is also not approved.

The concept btw alipay and Apple Pay is different .
In sg all the cashless paymen are directly from banks and alipay is third party payment. Money goes to alipay and not banks.

All cards payment in sg banks need to charge 2% of the total bill which small retails and small market or stall owner don't like it. And all the setup fees networks fees or whatever which have higher cost . That is tr stopping point for most stall owner to adopt cashless payment .
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