This is one thing I really love about Singapore. I went for two business trips this year and didn’t change much cash currency. Went to cafes, hawker centers, KFC, convenience stores and food courts and just paid with Grab Pay, Credit card or QR pay (Alipay via TNG). I’m even considering getting a Samsung cos Samsungpay is also widely available alongside Applepay.
Though to be fair, the fact that everything costs so much more took some joy out of it.
Pre Covid-19, I always used cash.
Post Covid-19, lemme scan your QR code babe.
Jokes aside, hopefully there will be cashback, point redemption available for using QR pay. For now, CC still offers a better deal.
Grab and Boost employs a points system, but you earn them by scanning their platform's QR instead of DuitNow QR. Expect fewer perks as a payment platform matures, unless they're trying to pull you back because you rarely use their app.
Not just Grab and Boost la, I'm hoping banks also do these sort of promo from time to time. I almost exclusively use MAE.
No it wont. Because we still have people who makan rasuah and stashing blocks of cash in their home. If this is true, then we are looking at new ways to makan rasuah...
https://www.northrow.com/blog/will-a-cashless-society-be-the-end-of-financial-crime
...what is clear is there has been a dramatic rise in cybercrime and online fraud that businesses will need to be vigilant of since the outbreak of COVID-19.
Even now doing shady business in briefcases of cash is seen as old-fashioned. Criminals will always find ways to make their cashless transactions appear legitimate and not trigger alarms.
Judging by the increasing number of nft project rugpulls that turned out to be wire frauds, not even these supposed blockchain thingamajig can be trusted. Criminals gonna incriminate.
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