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E-payment war morphing from single to paired fighters

Competition is now between teams of unicorn and incumbent; Go-Jek is in bed with DBS, Grab with UOB and Razer with NETS

Claudia Chong

Published Mon, Nov 12, 2018 · 09:50 PM

Singapore

THE e-payment fight has taken on a new complexion. Facing each other on the frontlines are no longer single warriors - be it a Super App, fintech startup or financial incumbent - but newly-formed teams of unicorn and incumbent.

On Monday, three such partnerships were unveiled at the Singapore FinTech Festival - Go-Jek and DBS Bank; Grab and UOB Bank; and Razer and NETS. These dramatic tie-ups take the tussle for a unified e-payments system for Singapore and the region to a new level, industry observers told The Business Times.