Banking services disruption heightens need for multiple payment methods, say retailers
AFTER the weekend’s major disruption of DBS and Citi banking services, it was business as usual for small retailers on Monday (Oct 16), though some say the incident has reinforced the need for multiple payment methods.
In an informal poll by tenant group Singapore Tenants United for Fairness (SGTuff) on Monday, about one-third of the 76 respondents said they were still affected by the outage “to a small extent”.
This includes not having received customer payments that were made via PayNow to DBS accounts over the weekend, SGTuff chairman Terence Yow told The Business Times (BT).
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
US holds quarterly debt sale steady, starts buybacks this month
Binance founder Zhao Changpeng gets four months in prison
Citigroup sees loan book hit in climate action ramp-up, document shows
Actively managed funds ‘bleed’ client cash in ESG upheaval
UAE's top bank FAB beats Q1 profit estimates
Bitcoin faces worst month since FTX crash with ETF demand cooling