POSTED 10 Sep 2017 - 14:20

What do SMEs think of the push for Singapore to go cashless?

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Do you already use e-payment systems? Are the fees too high?
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Top Response

Nicholas Yong

The main issue is the credit card charges for either top-up or merchant fees. In Europe and China, the law made all finance charges to be less than 1 percent, (in China only 0.4 percent. ) Make that happen and not place additional barriers such as moving charges to top-up fees etc.. and you will...

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Nicholas Yong
14 Sep 2017 - 01:18

The main issue is the credit card charges for either top-up or merchant fees. In Europe and China, the law made all finance charges to be less than 1 percent, (in China only 0.4 percent. ) Make that happen and not place additional barriers such as moving charges to top-up fees etc.. and you will see massive adoption. We don't need more different tools or solutions.. this is just purely economical.

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