Singapore Seeks Info to Boost Electronic Payments for Small Businesses

Multiple government agencies in Singapore have come together in a Request for Information (RFI) on electronic payments. The initiative is part of a national drive towards fostering an electronic payment society in Singapore. The National Environment Agency (NEA), Housing & Development Board (HDB), Monetary Authority of Singapore (MAS) and Smart Nation and Digital Government Office (SNDGO) have jointly issued the RFI. Part of the “Smart Nation Vision, policymakers want to boost solutions to support micro-payments mainly at hawker centers, HDB coffee shops, and shops in the heartlands.

The Smart Nation vision is not specifically about tech but more about empowering technology to improve lives of the Singapore population. Regarding e-payments, the aim is to provide people with a solution that is not just easy and convenient, but a delight to use.

Given the low-value transactions in many small businesses, the solution must be affordable for the merchants, for payments between them and their customers and between them and their suppliers.

The Singapore government is keen to work with industry players to develop these solutions that can be adopted by a broad demographic of customers, merchants and suppliers quickly, affordably and safely. These agencies are crowdsourcing views and ideas through this RFI, to harness the innovation and creativity of the private sector and co-creating solutions.

Interested parties can access the RFI on GeBiz from today. The closing date for submission is 15 September 2017.

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